American Education Service
American Education Service Reviews
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JJ1999
August 1, 2010
Terms don't make sense
My terms are as follows:
4.940% interest rate
$18375 balance. (Original balance was $22000)
$154.75 payment per month
They changed me to an "interest only" loan basis. If this was the case the payment calculates to around $74.60 per month. I do not understand what they are doing and they will not explain what they are doing. Every payment I make of $154.75 makes my principal balance decrease by $0. Can anyone make sense of this for me?
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