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Is there a penalty for paying off my account early?

by Pilot Finance Inc. | Jul 24, 2013 | Student Program FAQs

No.  There is no prepayment penalty.  You will be refunded any unearned interest for paying off your account early.  Interest rebates, or refunds, for early payment in full (referred to as “prepayment”) is determined by the finance regulations in your state.  The calculation varies slightly from state to state.

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