Private Student Loans Reporting Incorrectly

[Neblett]

I have a series of non-federal student loans that I got as an undergrad 25 years ago.

When I go to the loan website and look at my accounts, it lists a total payoff balance that is almost three times the amount of the principal, due to the interest that has been charged over the years.

But when I go to my credit reports, all the CRBs are showing is my original principal amounts as the current balance for each of the loans.

Any idea if this is legal? Any idea if I can maybe contest this and claim that I only owe those amounts? I have credit reports from 10 years ago as well that only show the original balances.

Any advice of suggestions welcome.

[Anonymous]

If I'm understanding you, they are reporting the current balance as what you originally borrowed and not the increased amount that you owe today?
If I'm not mistaken, this might be explained by capitalization. It seems off that it wouldn't, but if none of the interest has capitalized, then the principal would be the same and they would be under no obligation to report more than that. (Although.... Why would you want them to?) What they are reporting would be accurate.
With federal loans they leave it up to the servicers, so I would imagine the private loan lender can tell you how it should report.