Navigating the complexities of student loan repayment often leaves borrowers questioning the intricacies of interest accrual. Understanding whether interest is calculated monthly or yearly, and how this impacts the total repayment amount, is crucial for effective financial planning. This exploration delves into the mechanics of student loan interest calculations, examining the differences between simple and compound interest, the influence of loan type and repayment plans, and strategies for minimizing the overall cost of borrowing. We will dissect the various factors affecting your monthly payments, providing clear examples and visualizations to illuminate the often-opaque world of student loan finance. From federal Read More …