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Could you pay your college loans off all at once?

What if right after college someone magically won the lottery. And he’s currently playing a certain amount of money every month on those loans. Would they be required to continue those payments or could the just pay off the loans all at once?

You can pay them all off at once with no penalty as long as they are federal student loans. Be sure to call your loan servicer to obtain the correct payoff amount for the day you want to payoff the loan, as interest accrues daily.

This entry was posted on Thursday, June 17th, 2010 at 4:20 pm and is filed under financial aid. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Could you pay your college loans off all at once?”

  1. You can pay it off at once, seriously!
    References :

  2. You can pay them all off at once with no penalty as long as they are federal student loans. Be sure to call your loan servicer to obtain the correct payoff amount for the day you want to payoff the loan, as interest accrues daily.
    References :

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