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Where you make an early repayment, there may be a reduction in the amount of interest you'll have to pay and this will be reflected in the settlement There is also a penalty of one month's interest for repaying your loan early.
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Kim Cook is executive director of the National College Access Network, which supports nonprofit organizations and schools across the country in their efforts to help more underrepresented and low-income students enter and complete postsecondary education.
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