I can’t remember what made me ck it out- maybe a notice in the mail about 6 months after first disbursement. Delinquent interest/fees had me paying monthly much sooner than I thought I would be.
Both of our kids did the FAFSA thing but didn’t qualify for “free money”. Instead, they were offered loans. When we saw the interest rates...we ran. It was pure usury.
Instead, we put their tuition/other expenses on our air mile MasterCard and paid it off the following month. We’d already been putting money away for their college expenses. Still, it was tight sometimes. We traveled quite a bit on the air miles though.
As a general rule, I’m one that feels that if you take out a loan, you should expect to pay it back.
Political? Most likely background noise..................
So the interest is, or isn’t accruing during this time?
I thought all excess monies beyond the simple interest require in that month was always put to principle. You describe paying a huge amount of interest, first.
Could you explain further?
We paid for our daughter to go to school to get an Art degree and she has a STEM job. Go figure.
I just received an education, and for that accept my gratitude.
How can this be legal? This is as big a scam as any I’ve heard of. Interest is interest, not principle.