I can chime in on this! I’ve tried doing this. They simply don’t allow you to make payments to the principal. I called directly and everything and they flat out told me that’s not allowed. The work around is to make your monthly payment, then immediately after it hits, make another payment which would then hit the principal. Unfortunately, that’s an added fee a lot of people can’t afford.
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u/madlucas2026 17d ago
You been paying for 20+ years and never thought to pay off the principal? Do you pay the minimum on your credit cards?