Understand student loan payments

Know how much you’re paying—and why

There are a few common questions that come up about student loan payments: Why is my Total Loan Cost higher than the amount I borrowed? How are my student loan payments allocated and applied to my loans? And how can I pay down my student loans faster? Here’s what you need to know.

• See the effects of interest and capitalization and why your Total Loan Cost is more than your original loan amount. This is an important part of understanding student loans.
  Learn about interest and capitalization
• Find out how your monthly payment is distributed across your loans and how it helps to pay down various portions of them.
  How we allocate and apply your student loan payments
• As you pay down your student loan, there are tips that can help you reach your goal faster.
  Pay down your student loans