Can You Be Penalized for Paying Off Student Loans Early?
Many people graduate college with debt and struggle to keep up with their student loan payments once they have a degree in hand. But what if you find yourself in the opposite position? What if you’re able to pay off your student loans early? Is doing so a smart idea, or will you incur penalties for knocking out that debt sooner?
Paying your student debt early
Let’s start with the good news: There are no penalties associated with paying off student debt early.
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