Please be advised, if you reside in California, Colorado, or Rhode Island, we are required to contact you each time we receive an over-payment to determine how you’d like the over-payment applied to your account. Our standard practice for over-payments is to apply the excess amount proportionally to all remaining loans based on loan balance.
If you reside in one of the mentioned states, please contact us to let us know how you would like your over-payments applied. If we don’t receive instructions from you, you will receive communication each time an over-payment is received. Please be advised, any over-payment adjustment will be in effect for the life of the loan unless a request to cancel or adjust the payment is received.