Academia Support Center

Education Your Way

How to avoid interest eating up your payments

It’s important to note that with any repayment plan that lengthens your repayment period may also bring with it further interest on your principal loan. This means that without proper planning, such as responding to an increase in your salary, you may end up paying more than you would have otherwise.

Putting your loan on deferment (see our page for more detail) can also lead to paying much in interest, stopping your payments doesn’t guarantee the interest will stop building.

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