To preface: I don’t know much at all about my loans. I didn’t know what I was doing when I took them out for school ~ 10 years ago, now they’ve hit my credit report as 8 different “DEPT ED/AIDV” loans that I’m going to start paying off soon.
The weird thing though is that I’m getting notifications that every month or so, some of the balances on the loans are changing. 2 of the loans increased by $3000 each, which I’m assuming is interest, but one of them actually decreased by $3000 a couple of days ago and my credit score went up.
Can anyone explain what’s going on with the balances? Specifically how it could decrease that drastically without me making any payments yet
What’s happening to my loans?
byu/get-blessed inStudentLoans
Posted by get-blessed