Understanding Interest Calculations
Call your loan servicing company and ask them. It is complicate
Call your loan servicing company and ask them. It is complicated.
For the exact formula you'd have to ask the servicer. However wh
For the exact formula you'd have to ask the servicer. However what accrued interest on next due date means is, the amount of interest assessed to your balance from one due date to the next.
The servicer is the Federal Government and I've asked before (th
The servicer is the Federal Government and I've asked before (through email as I prefer everything in writing) and the responses are useless. They never just provide the formula and show me how to plug in my numbers to get the numbers they get. Because it's the government is there a site that has the formula and information? It should be illegal for them to be allowed to loan me money and not explain EXACTLY how their system works - I didn't realize that when I started the concept of a student debt program I'd be facing an issue of the servicer's math being so difficult to follow :-/