What happens to the loan if I make an extra repayment?

When you make an extra repayment, the debt decreases, which leads to the total cost of the loan also decreasing. By default, the term of your loan will be recalculated and shortened to reflect the new debt. If you prefer to keep the term as it is but have your ongoing repayments reduced, you can log in and adjust the term under "manage loan" once you have logged in.