After you successfully fulfill the 12-payment requirement, the 0.8 percent rate reduction will be applied permanently toward your interest rate. At this point, the savings that result from the lower interest rate will be applied toward reducing your monthly payment.
Please Contact Us for Additional Information
Website - See our list of Questions and Answers related to the Repayment Incentive Program.
Phone: Talk with a loan representative between 8 a.m. and 8 p.m., EST, Monday through Friday, at 1-800-557-7392 (TDD 1-800-557-7395).
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