<prompt> Human: Hi; I have a lot of student loans, but my biggest offender is my private loan which is now down to 20,000. I graduated in May, found a job in July, and now Im living with my parents who cover the a lot of my expenses so I can throw money at this loan. My payments do not start until December, and I want to write a check for 5000 at that time. I want to continue to over-pay each month as much as possible. My parents wrote them a sizable check to pay down this loan and the bank gave a verbal warning over the phone that they wouldnt be able to keep accepting large checks on this loan and re-amortizing it. I dont see how they can charge me interest on money that Ive paid back. Can they really stop me from paying this loan down as quickly as possible? And can they really charge me interest on money that I dont owe them by refusing to re-amortize it? Maybe Im just not understanding this correctly. Thanks in advance for your insight. Title Edit: Quickly EDIT: Thank you for all of your insight. I think I had some misunderstanding about what was really going on. I just wanted to make sure I wasnt accruing interest on money that was paid off.  <response>: Early payment penalties are illegal even on private student loans by federal law. So my guess is you were just talking to a moron? It shall be unlawful for any private educational lender to impose a fee or penalty on a borrower for early repayment or prepayment of any private education loan. 