Congratulations! I know that feeling is amazing. I just consolidated, so I lost all the months I had paid in advance, but at least I now have a lower balance now to continue paying and will try to build up that cushion.
From what I had read in other posts, it seems like the default for many lenders is one or the other, and then you have to write a letter to get them to do the opposite. For mine, if I just paid a large payment (although I had 3 sub-loans), it did not give me the option. If I tried to allocate payments to particular loans, it would give me the option at that time to advance or not for each specific loan.
So if you DO click "do not advance due date" will your lender recacluate your amount owed each month based on your over payments? I just started clicking "do not advance" as I'm finally full time employed (I hadn't been clicking due to the flexibility reasons you'd all talked about) and am thinking about buying a house. I love having the credit history from the loan but want to drop down my debt-to-income ratio.
I know I can afford my mortgage payment plus my (triple) student loan payment but the bank doesn't necessarily agree. (Budgeting! It works!) If they actually recalculate my payments then my monthly payments "drop." At least officially.
It does! My required payments have dropped from $126 to $115 by not advancing the due date. Wish I would have started earlier!