So Fi is an online loan company that offers student loan refinancing options, mortgages and personal loans.So Fi offers some of the lowest interest rates and the best consumer experience in the market.

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I had no idea how student loan interest worked the day that I entered that financial exit interview, but I would like that to not be the case for you.

Below, I’ll help you answer the question “how does student loan interest work?

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Several months before graduating from college, I and a group of my classmates gathered in one of the prettiest rooms on campus.

On this particular day, the room was filled with financial aid office employees poised to give lots of boring Power Point presentations.

APR/Annual Percentage Rate: This percentage is the interest rate you will pay on your loan.

Auto-Debit: This allows your lender to automatically deduct a payment from your checking account every month.

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