I have some confusion on how best to apply my allocation for excess payments on my student loans. My student loans are all consolidated through My Great Lakes, so I thought it would be viewed as one single loan at a single interest rate. But when I go in to change my auto pay amount, it asks me to choose how I want to allocate my excess payments, and it shows two loans, both at the same interest rate but with different balances. Since they're both being paid out of the same account and they're both at the same interest rate, does it even matter how I allocate my excess payments? Or should I apply 100% of my excess payments to the smaller balance amount?
