Targeting Student Loans Question

[Anonymous]

I decided to target some of my student loan payments. I have about $100K of them with Fedloan Serving and the majority of them are in one loan for about $70K which also has the highest interest rate. I made a $500 payment for just that loan. When I checked it, it looks like the $500 went entirely to interest as the principal balance on this loan was exactly the same. 

I know when I make my general payments that go towards all my loans some of the principals are impacted. Right now I have about $1,200 in outstanding interest. Do I have to pay this down entirely before I can target that loan specifically and reduce the principal balance on that?

[calyx]

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@Anonymous wrote:

I decided to target some of my student loan payments. I have about $100K of them with Fedloan Serving and the majority of them are in one loan for about $70K which also has the highest interest rate. I made a $500 payment for just that loan. When I checked it, it looks like the $500 went entirely to interest as the principal balance on this loan was exactly the same. 

I know when I make my general payments that go towards all my loans some of the principals are impacted. Right now I have about $1,200 in outstanding interest. Do I have to pay this down entirely before I can target that loan specifically and reduce the principal balance on that?

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Yes, you generally don't get to put payments towards principle if there is any interest outstanding.