I had no idea the student loan system was so corrupt and convoluted until I read this book. Makes me sick.
He actually talks about that exact issue in the book and gives people guidance on what to say to their loan provider to ensure their extra payments actually go towards the principal. That was actually one of the parts that stood out to me most in the book because it seems so tragic that someone would be making extra payments for years and find their loans havn't shrunk at all. What a racket indeed!
Not only do the loans not shrink @coruscate, they grow! It is really a terrible tragedy and this is why I tell people not to pay them and get help. Now we have old people on fixed incomes getting monies withheld. They could get out from under it, but do not know they can.
I'm so glad your friend is helping. This is a place with a lot of need.
Ugh that’s so sad... what a crazy mess. 😞