When you make a payment, we first apply it to any interest due, and then the remaining amount goes toward your principal balance. If you'd like to pay down your loan faster, any additional payments — after covering any interest — will be applied directly to your principal. There are no prepayment penalties, so you’re welcome to make extra payments or pay off your loan early without any fees. To maximize the impact of extra payments, we recommend making them on your due date so more goes toward reducing the principal.
For more information on how payments are applied, see "What kind of loan do I have with Above Lending?"