The term "interest over the life of the loan" refers to the total amount of interest that will be paid on a loan from beginning to end, taking into account the interest rate and the length of time the loan is taken out for. Full definition
Sentences with «interest over the life of the loan»
Using this plan, you will pay more in interest over the life of the loan because the principal balance will decrease at a slower rate. (aspireservicingcenter.com)
Just remember that you'll likely pay more interest over the life of the loan with a longer loan. (thecollegeinvestor.com)
You do pay less interest over the life of the loan with a lower rate — obvious. (thecollegeinvestor.com)