federal-loan.org   SUBMIT


  close
So last repayment I made on my loan was in March 2018, leaving my balance at £6076. Unemployed since and started working last month, so logged into my account today, I expected £500 interest at worse, yet it now stands at £6749.55! Struggling to understand how this figure makes sense. The interest rate listed is 3.3%. This the amount added per year right? 3.3% of £6076 is only £200. So how am I at £6749.55. What am I missing here?