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#1
27th July 2014, 07:14 PM
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Whether interest gets cancelled if I took education loan years back?
I bought educational loan on the financial year 2008 -2012. I would like to know whether interest for the loan got cancelled or not?
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#2
21st August 2014, 12:17 PM
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Re: Whether interest gets cancelled if I took education loan years back?
No, the interest of the loan does not get cancelled unless you have already paid the interest. Rather it would have increased. Since you took it for the duration 2008-2012, so it had computed as simple interest during that period and after that it will be computed as compound interest.
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