Student debt repayment is now a major concern of all students with education loans.
Few borrowers have any idea of finance and the impact that compound interest has on the principal debt.
Once interest accrues on the loan principal and remains unpaid the principal amount owed increases. Thereafter there is then interest owed not only on the original principal amount of the loan but also on the unpaid interest. At just a 7% interest rate the amount a student owes will double in 10 years if the unpaid interest is left to compound.