Like I know with some houses you 're charged a certain percent interest that (I think) accrues interest;, BUT, once you've paid that off, there's nothing to accrue .. so you just work on paying off the principal loan (I could be totally off) -- ie all your payments are left to go totally toward the priniple. Do student loans work the same (if my understanding of the home one was right);
or, is it that for as long as there's a balance, whether or not you've paid all the accumulated interest, more will continue to accrue until you've settled the entire account?
I guess to put it in sort of different terms, does settling all interest accrued during in-school and forbearance periods of 0-payments, act as a cap?
or, is it that for as long as there's a balance, whether or not you've paid all the accumulated interest, more will continue to accrue until you've settled the entire account?
I guess to put it in sort of different terms, does settling all interest accrued during in-school and forbearance periods of 0-payments, act as a cap?