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22-Mar-2017 00:15

When I left the room that day, it felt like I had a ,000 monkey on my back.The amount owed was given to me in understandable, black-and-white numbers: ,000. Understanding the interest that was being charged and coming to grips with how much interest I would be paying over the course of the loan payoff was complicated and painful.Magnify Money is an advertising-supported comparison service which receives compensation from some of the financial providers whose offers appear on our site.

Cancellation: In very rare circumstances, you may hear of a student loan being cancelled.

I had no idea how student loan interest worked the day that I entered that financial exit interview, but I would like that to not be the case for you.

Below, I’ll help you answer the question “how does student loan interest work?

Several months before graduating from college, I and a group of my classmates gathered in one of the prettiest rooms on campus.

On this particular day, the room was filled with financial aid office employees poised to give lots of boring Power Point presentations.

Cancellation: In very rare circumstances, you may hear of a student loan being cancelled.

I had no idea how student loan interest worked the day that I entered that financial exit interview, but I would like that to not be the case for you.

Below, I’ll help you answer the question “how does student loan interest work?

Several months before graduating from college, I and a group of my classmates gathered in one of the prettiest rooms on campus.

On this particular day, the room was filled with financial aid office employees poised to give lots of boring Power Point presentations.

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