Interest is calculated daily on the basis of a 360-day year with 12 months, each of which is 30 days (or 30/360) long, regardless if a month has more or less than 30 days.
To learn more about the interest you pay on your loan, sign in to your Account Summary to view:
- Your interest rate and annual percentage rate (APR)
- The amount of principal and interest for your most recent payment
Reducing the interest you pay
Because we don’t charge any prepayment penalties, you can prepay your loan or make extra payments to reduce the length of time your loan is outstanding, and the total interest you pay.
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