For
federal student loans, regulations stipulate any extra payment goes first to outstanding fees (like late fees), then to interest accrued since your last payment, and then to the principal of the loan, said Betsy Mayotte, director of consumer outreach and compliance for American Student Assistance, a nonprofit focused on higher education fin
student loans, regulations stipulate any extra
payment goes first to outstanding fees (like
late fees), then to interest accrued since your last
payment, and then to the principal of the
loan, said Betsy Mayotte, director of consumer outreach and compliance for American
Student Assistance, a nonprofit focused on higher education fin
Student Assistance, a nonprofit focused
on higher education financing.
WASHINGTON — President Clinton was poised
late last week to unveil a long - awaited legislative package that would create a federally chartered corporation to oversee a national service program, replace the existing
student -
loan program with a system of direct
loans made with
federal capital, and call for extensive use of a
loan repayment plan that would base
payments on a borrower's income.
If you're in my situation — everything is paid
on time but your private
student loans you took out when you were 17 because the school said you didn't qualify for financial aid (which is bogus — everyone is approved for
federal fin aid, I found out
later) were exorbitantly high minimum
payment and then you got a new job and its 3 hours away from the apartment you just rented.