The most aggravating aspects of education loan financial obligation is interest consumes up big portions of the payment per month. Interest may be so incredibly bad that in some instances, the month-to-month interest is bigger than the payment per month. Borrowers dealing with interest that is high may never miss a payment and invest thousands of bucks over time and just see their stability stop by a hundred or so bucks.

Loan providers have incentive that is huge count re payments towards interest because interest is exactly how these firms generate profits. (more…)