March 13, 2014 (Washington D.C.)-- Being able to pay extra on a student loan can provide peace of mind that a financial burden is shrinking faster than usual. That’s until you learn that the extra money has been applied to future payments and interest, reducing your ability to pay down the principal. Congresswoman Susan Davis (D-San Diego) introduced legislation today that would require extra payments on student loans go toward the principal of the loan first.
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