How does the end of the student loan payment pause affect interest accrual?
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2 Answers
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When the pause ended for me, interest started creeping again and my payment jumped because of accrued interest. My quick fixes: know your loan type, set up autopay for a small discount, and prepay extra toward principal this month to beat future interest. Budget a little extra each month.
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When it ended, interest started accruing again on everything, so I prepay whenever possible to limit the surprise.
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