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    1. #1
      Sleeping Dragon juroara's Avatar
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      How to BEAT student loans? (US)

      I could just take a congressman flay them and watch them burn slowly on a bbq. FCK THEM ALL TO HELL!
      Sorry, Im just really pissed off that my last payment didn't even touch principal, it all went to interest. Its not like I just graduated, I've been paying for years. And what makes it worse, its not like I'm behind! I've dump extra money into it whenever I can. According to my lender I don't owe until 2014!! 2014!!! Which is a lie of course, because that doesn't stop interest from accumulating.

      Of course I don't have this issue with my car payments, I know my monthly payments eats away at the principal. Its only student loans that I have this problem with! And this is a very RECENT problem. 99% of my payments always eat away at principal.

      Anyways....until there's an occupy v2.0 student loan edition, does anyone have any advice on how I can beat congress-bank-whores at their own game????

      The interest on student loans accumulates daily.

      Of course the scheme of interest is its added to your principal, charging interest on top of interest. Capitalized interest. I am not sure exactly at one point capitalized interest is charged. What are we talking about, daily?. I'm assuming so. This means for every day you don't pay, your payment gets higher and higher and higher?

      Does this mean making ONE large monthly payment, is actually a bad idea? Is it better to say make multiple tiny payments each month? Say a payment each week? (My lender takes apx 3 days to process a payment. Which is probably a part of the scheme too, I mean target charged me immediately!)

      So, what are your thoughts and advice on this? How can I beat them at their own game?

      edit: oh and just to clarify, yes all of my loans are federal

    2. #2
      DuB
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      Distinct among snowflakes DuB's Avatar
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    3. #3
      Sleeping Dragon juroara's Avatar
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      Quote Originally Posted by DuB View Post
      that does sound like a plan

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