Are there any penalties for paying my loan off early? Dane November 02, 2018 21:16 Updated Follow There are no penalties for paying your loan off early. Related articles Can I make a larger down payment to lower my monthly payments? If I make additional loan payments will my monthly payment change? How do I make loan payments? Can I make additional loan payments? Why do you require the last four of my social security number when applying for a loan? Comments 0 comments Please sign in to leave a comment.