Will there be a penalty for early repayment of my consolidated student loans?
I’m just finishing up grad school and my employer will give me a bonus every year that I would like to put towards my loan repayment. Is there typically a penalty for early repayment of a consolidated student loan?
Will a large lump sum payment postpone the due date on future payments, or will a payment be due every month despite the large single payment?
It depends on the terms of your loans. Some privately consolidated loans do have prepayment penalties.
