FedLoan: How to Make an Extra Payment


Whether you're following the debt snowball or debt avalanche, targeting specific student loans is the most effective way to pay off your debt. Instead of spreading an extra payment across all loans, focus on one loan and throw every single penny at it until it's paid off. Then move onto the next one. 

 While student loan providers are evil and tend to make everything difficult for you, FedLoan Servicing surprisingly has an easy way to pay extra on loans without jumping through a bunch of hoops. Shocking! Now only if we could get some charts and better information on the portal! #wishfulthinking 

 I was inspired by Merilee, from @easy_budget, to write this blog. She did a fantastic post on Instagram where she outlined how to make an extra payment on an individual student loan in Navient. Let's get started!

Debt snowball: paying off debt from smallest to largest balance no matter the interest rateDebt avalanche: paying off debt from highest to lowest interest rate

Step 1

 Call FedLoan Servicing and make sure your extra payment is being applied to your principal balance instead of next month's bill.  It doesn't look like there's a way to do that in the portal. The reason for doing this is you do not want FedLoans to apply your payments to future bills because it doesn't reduce the principal balance you owe. That means you'll end up paying more in interest because your principal balance did not go down.

Note: all interest on the specific student loan must be satisfied - paid in full- before your payment will apply to the principal balance. 

Step 2 

Login to the FedLoan portal. If you do not have an account, you will need to create one.Cybersecurity Tip: Use a strong password and change it every 90 days. While you might not care about people logging into your account to make a payment, keep in mind that your bank account information, home address, email address, and phone number are all stored in the FedLoan portal.

Step 3 

Navigate to the Payments & Billing section on the left-hand side of the portal. 

Step 4 

Click the Specify Loan Payment Amounts tab. All of your individual student loans will be listed.Note: if you have consolidated your loans, you will not be able to pay on them individually. I recommend setting smaller goals within the loan to keep you motivated. For example, every $10,000 paid off, go out to dinner to celebrate.

Debt Free in Sunny CA Amanda Williams


I'm Amanda. My husband and I paid off $133,763 of debt in less than four years! During our journey, I realized what my true passion was in life: helping others become debt free and reach financial independence. You can learn more about us here.

Step 5 

Enter the payment amount on the loan you want to pay extra. We use the debt snowball method. Therefore the payment will go towards the smallest balance of $8,107. Fill out the payment date, bank information, and press Make a Payment. 

Step 6 

Verify your payment information, click the check mark to agree to the terms and conditions, and click Verify and Submit Payment. 


A "your payment has been successfully submitted" message will show up detailing your payment. It usually takes three days for my FedLoan payments to reflect on my account.

There you have it! That's how you make an extra payment on an individual loan with FedLoan.

Do you use the debt snowball or debt avalanche method?

More Ways To Save

  • Light and Airy Photographer - Make your Instagram aesthetic professional and polished with the Light and Airy Lightroom Filters. 
  • Amazon - Shop all my favorite products on Amazon. Plenty of money saving finds and ways to make your life easier. 
  • Capital One 360 - Got an emergency fund sitting in a 'traditional' savings account making .010% interest? NO! Get a Capital 360 high yield savings account. It's time to start making money on your money! 
  • EasyBudget - Check out the debt free community's leading debt snowball calculator. 
  • Lastpass - Stay safe and secure online when you use Last Pass for your passwords and digital security. Why is this so important? Visit my article on Instagram Security today.

Join thousands of monthly readers!

      About Amanda Williams

      Amanda Williams is owner and founder of Debt Free In Sunny CA: A company inspiring financial literacy and debt free living. Josh and Amanda paid off $133,763 of debt in 3.7 years. She has built a dedicated, engaged, and loyal audience of thousands from the ground up. The #debtfreecommunity hashtag was created under Amanda's direction and has generated an online movement, bringing thousands together on a daily basis.