how can i reduce my principal balance in a school loan?

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how can i reduce my principal balance in a school loan?

2007-02-26 09:42:04 · 3 answers · asked by bridgette_89 1 in Education & Reference ➔ Financial Aid

3 answers

It is often possible to make a payment directly to the principal. Check with your lender. You would make a regular payment, and then add extra dollars specified to be applied directly to the principal. It really helps in the long run. I've included a site with a bit more information for you. Google search "payments on principal" for even more sources.

2007-02-26 12:28:45 · answer #1 · answered by Anonymous · 0⤊ 0⤋

With my mortgage, they let me split my monthly payment in two payments. It will pay my principle off ten years earlier. Se if they can set up a program like this for you

2007-02-26 17:51:10 · answer #2 · answered by Anonymous · 0⤊ 0⤋

By paying it off.

2007-02-26 17:49:32 · answer #3 · answered by Proofoflife 3 · 0⤊ 0⤋