Participants with outstanding loans may now make a partial prepayment in addition to regularly scheduled loan payments. Those wishing to take advantage of this opportunity to pay down their outstanding loan balance more quickly than originally scheduled may do so by completing the Loan Prepayment Form. The completed form, along with a personal check or cashier’s check made payable to Nationwide Retirement Solutions, should be mailed to the address indicated on the form.
Upon receipt of the completed form and check, Nationwide will apply the amount received first to accrued interest, and the remainder to the outstanding principal of the loan. Note that this prepayment does not take the place of any future regular loan payments. Regular loan payments must continue according to the loan amortization schedule.