Hidden Fee on Your Loan
Why did I receive less money than I actually borrowed?
Good question! If you’re looking through your loan documents and the math doesn’t add up, that’s because in addition to the interest you pay for having borrowed money- you get charged a fee. Think of the federal government as an ATM, you took cash out from that wasn’t your bank. It’s like the reverse of getting out a $20 but being charged $23. And guess what? You’ll have to pay back the full amount you borrowed.