We have been paying on our loans for over 10 years, and in all that
time only 12% of our payments were ever applied to the principal.
We have paid off 4 vehicles, 4 hospitals, 1 home, 15 doctors and
several animals - because you can pay ahead or pay extra on the principal --
BUT NOT ON STUDENT LOANS!!! THEY DO NOT HAVE TO APPLY ANYTHING TO THE PRINCIPAL FIRST - they can legally apply to their fees and interest and charges first - It is a sick rigged rip-off intended to create debts that can never be paid off!!! AND BILL f'ing CLINTON privatized it all so that his buddies could build themselves a private golf course...Hell, we owe more now than when we started paying the damn things!!!
So much for 'family values', the importance of education, and all that
other crap...