laz98 wrote:Welcome to the forums!
It's up to you. Is it more important to you to have that money in savings, or to have your loan paid off? Installment accounts are a very small portion of your overall credit score, so it's not going to make a drastic difference either way. Personally, I would just keep making my small payments.
If you paid a big chunk, you would reduce the principal owed, not your interest rate. It should not affect your interest rate at all.
I have yet to pay off any of my student loans, so I can't tell you what the most "hassle-free" way to pay one off would be
It's definitely more important for me to have the loan paid off, I only created the savings so that I can save up the full amount, while earning interest on it to help me out a little. I just don't get how sallie mae works since I've read so many different things in which people had a hard time with them particularily when they wanted to pay more than the minimum amount to decrease their principal and there was a complex process involved--I guess that's my real question..
Thanks for answering my other question and the addtional information: I didn't realize what it would do to my credit score but it's nice to know not much would happen 
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