Payment Distribution

If you have more than one loan, each payment is distributed among all your loans.  If you want to have a payment applied to a specific loan account, you must include with your payment a letter to that effect. 

Regardless of the loan type or number of loans, each payment is distributed in the following order: fees (late fees, NSF fees, etc.), past due interest , past due principal , current interest, current principal.

 Get more information about Payments in Advance  and Prepayments .