Steps to pay off a four-year student loan in one lump sum
1. The borrower shall submit a written application to the university one month in advance and fill in the Application Form for Early Settlement of National Student Loan;
2, colleges and universities to review the borrower's application, and send the "national student loan early settlement notice" to the National Development Bank;
3, the National Development Bank accounting borrowers should repay the principal and interest, and notify the borrowers and universities;
4. The borrower shall deposit the funds in full into the designated account according to the amount and time specified in the notice;
5, the National Development Bank received funds, issued a "national student loan settlement certificate", and sent to borrowers and universities.
Attention should be paid to the repayment of student loans
1. The time for applying for prepayment is from June 1 day to June 10 every year, and prepayment requires paying off all outstanding debts of a contract at one time;
2. Loan students must apply for new student loans in the student loan system of China Development Bank before 10 every month, or apply to the teacher of the local county student aid center, and deposit the loan in full into the corresponding repayment account before 15 of that month, and the bank will deduct the money on the 20th of each month;
3. If Alipay is used for repayment, Alipay will deduct the corresponding amount from the student's personal Alipay account on the prepayment deduction date and send it back to the borrower by SMS or email;
4. The borrower can log on to the online system in advance to check the repayment results. If the prepayment fails, the applicant must resubmit the application within the specified time of the next prepayment.
In addition, student loans allow students to repay in advance, and they can choose to repay part or all of them first. Moreover, early repayment will not have any negative impact, and overdue repayment will have an impact.