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Pay extra payment toward principal with Nelnet

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New Visitor

Pay extra payment toward principal with Nelnet

I would like to make extra payments toward my Nelnet loans, especially since they are deferred until the end of the year. Does anyone know if this is possible? The last time I contacted Nelnet, the most helpful message I received from them was "If you want to pay your loans faster, make more payments." I'm using an income driven repayment plan, if that matters.

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Valued Contributor

Re: Pay extra payment toward principal with Nelnet

Yes, you can make extra payments any time you want.

When you sign in, select payment by group and you can see when each individual group payment is due.  You can pay each individually and if you don’t select the “do not extend due date” button, it will push your due dates out farther.  These are simple interest loans, there is no disadvantages to making extra payments and pushing our required payment due dates.  I have some that are not due till 2022 but I keep paying on them.

 

GL!

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Regular Contributor

Re: Pay extra payment toward principal with Nelnet

Sorry, I'm a little late here. Personally, I'm holding onto my money until after the election. There are proposals from both camps about student loan forgiveness....I doubt it'll be 100% but...just in case, I'm holding off for now. In December or January, I'll decide if i should pay down on it.

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