I’ve been trying to pay off my private loan with the scholarships I’ve received. I say “try” because the loan gains interest on a daily— as opposed to monthly— basis. On top of that, payments take 2-4 days to process. I’ve already made payments twice, the first time thinking I had paid it all off, then again paying an additional $150. Now I owe $0.14. This is ridiculous. I tried paying over the amount of the loan to get over the daily interest thing, but guess what— they don’t allow payments over the current amount. How, then, are students expected to ever pay off their loans? Oh, that’s right— they aren’t.

I’m going to call tomorrow to complain. Not sure what good it will do me, but I may as well try.

Oh, and naturally, the loan company’s slogan is “Champions for Higher Education!” HA! More like “Champions of Extorting Students So They Remain Forever in Debt and Provide Us With a Constant and Reliable Source of Income!”