Many lenders have biweekly payment plans under which borrowers make half the monthly payment every two weeks. They are especially convenient for people like you who are paid biweekly. If you pay half the monthly payment every two weeks, over the course of a year you make 26 half-payments, which is the equivalent of 13 full payments. Most biweekly programs credit payments monthly, while a few credit payments biweekly, which is worth a little more to the borrower. Crediting payments every two weeks means that the balance is reduced every two weeks, which saves a little interest within each month.

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