CNBC worked with student loan expert Mark Kantrowitz to explain some of the common reasons people see their balances climb.
Student loan borrowers have a lot to deal with. Avoiding sky-high interest payments should be at the top of that list.
Currently, fewer than a quarter of student loan borrowers are repaying their principal, or what they originally took out, Education Secretary Betsy DeVos said at a recent conference on financial aid. Interest on your debt grows while you're in school and during the six-month grace period after graduation. Proactively paying at least the interest-only payments can keep your bill from growing.
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