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Can I start paying off my direct student loans before the grace period?

By admin | August 22, 2010

DayzToNitefall asked:


This is my first time taking in a loan, so I don’t know much about it.
The direct student loans site has “Repayment” options, such as Standard, Graduated, and so on. Instead of going along with one of the repayment options, can I just make my own payment plan before the grace period?
Thanks in advance.

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    • Topics: student loans |

    No Responses to “Can I start paying off my direct student loans before the grace period?”

    1. Layla Says:
      August 24th, 2010 at 1:55 am

      There is no prepayment penalty on federal student loans. Ever.
      If you don’t believe me, read this:

      You will make the decision as to a repayment plan when you start repaying the loans, not when you take them out, but I’m glad you’re thinking about this now. Early repayment, if it’s possible for you, is the best way to pay off your loans.

      Here’s to graduating without debt! I hope it works for you!