Mine have been reporting the full balance (principle and interest) for at least as long as I started paying attention to my credit in January. My loans are serviced by Great Lakes.
Thanks for that. I was wondering why my Fed Loan student loans shows increased balances monthly now on my reports. That explains it all.
I had this issue as well that caused my score to decrease due to the balance increased. I contact FLS and they advised me to dispute with the CA's because my balance is the same. I am currently on in school deferrment therefore my balance should have remained the same. Did you find out anything differant about the change?? What can I do to keep it from inpacting my score month after month??
I just checked Credit Karma and on my Transunion they are showing an increase in my FedLoan balance even though I'm on an IBR and won't need to recertify until February, and have not been late. They were really slow processing my November payment for some reason, taking over a week.
I'm not happy about this since I can't afford the 10-yr payment and if this interest keeps reporting like this I will be screwed credit wise for the next 20 plus years.
My score came down by 11 points due to this. True it's a CK score but it does concern me because it will look to potential creditors that my debt to income will be worse due to the appearance of taking on more debt.
I will need to purchase a new home in the next year and a half. This will look really bad to a mortgage lender. I so regret taking out student loans!