New Infographic Helps Students When Paying Extra

Students who are current on their loans may, at times, want to pay more than the minimum amount. This is a great decision, as it can shorten the life of the loan and, thus, lessen accrued interest. However, it is important that they know where this money can be applied and how to make that designation.

Nelnet’s new What to Know About Paying Extra infographic helps students learn about their options when it comes to paying more than the minimum amount required. Three scenarios are provided that graphically depict how students can apply extra money toward the principal balance of their loan. Share this resource with students who are in or nearing repayment; it will help them save money and get the most out of their student loans!

Kristin Tobias, Communications Coordinator, Nelnet