nelnet nelnet is an ripoff company indeed. unethical loan practices. Internet

You can pay ahead 'til the stars come home. You have no pre-payment penalty.

Your complaint/consumer suggestion is common among people that don't know up from down. Any payment you ever make above the outstanding interest and late fees always goes to principal. Please note that no special request from you is needed or welcome. 

Have a flawless evening.

 

They're required by federal law to advance your due date, when you pay more than minimum. It is common for people that don't understand student loans to think that a "paid ahead" status doesn't reduce their principle/interest/total amount owed. As of the day they got your payment, they applied it first to late fees/attorney fees/collection costs, then interest, then principle. There is no secret account hiding up there for future payments to be held unto. Once their late fees and interest are covered there is no place for your payment but principle. I hope this knowledge empowers you to make a wise choice.

Not sure if I understand the problem or not. Did you take out an unsubsidized student loan?

Sounds like you are just being sent a statement with the current interest .

From what I remember I was sent a statement with the quarterly interest. Paying this interest was optional and not was not required (but didn't hurt to pay it anyway).

You can pay them more than 60 dollars if this is the case and that amount would go toward the principal.