When I made my first $1,200 payment to my six figure student loan debt, I was shocked at how much interest I paid (over $900!). I worked so hard to make that $1,200 payment, and then poof!, $900 of interest disappeared to the loan company. Each month I noticed that my payment was being allocated differently: the amount going to my principal balance and …
A Simple Explanation of How Student Loan Interest is Calculated
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