I checked the terms in my loans and, if I try to pay my student loans down faster, the extra money I put down doesn't even knock anything off the principal. Crazy.
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I checked the terms in my loans and, if I try to pay my student loans down faster, the extra money I put down doesn't even knock anything off the principal. Crazy.
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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!