Quick Question: Student Loan Repayment

[braznyc]

So, my student loans finally came through, and I was talking to Citibank, they claim I will not be penalized if I want to start paying them off (before I finish school), or if I want to pay the interest only, and I can stop at any time. I can afford to pay them every month right now, and I was thinking about doing it to help rebuild my credit. They are fairly small amounts, do you think this is a good idea? I know what I can handle, and I don't foresee me not being able to do it. They also claim I can stop all together, or switch to interest only. Any suggestions?

[wynona01]

Actually i am doing the same thing at this time. I have a private student loan with Wachovia Educational Finance. I started paying them in November. I think it is a good idea, i do not have any penalties against me for paying early, and it reports to all 3 credit agencies every month. My interest is a tad bit high so i pay the interest and the rest goes to the principal each month which is bringing my balance down. I can pay how much i want since I'm really still in deferment. So yes you can  pay whatever amount you want to pay and you will not get penalized if you stop paying.