Private College Student Loan - how can i pay only interest on my education loan?

how can i pay only interest on my education loan?

Hi, I have taken an education loan. I am repaying it through EMI. this EMI includes both principal and interest amount. Can I pay some amount, which will be paid only towards my interest not towards principal.

Public Comments

have you completed your education or still to complete? in the case of former ask the bank for details after every disbursement. in case of the latter,ask for the statement for the month ending for which you want to pay the interest for. this is necessary as rate of interest changes at times. you can keep on paying just interest,you will have to close the loan by paying full principle,at the end of tenure. by the way it is principle not principal
whenever u repay amount in edu loan first any charges debited by bank are apporpriated.then amt is appropriated to interest applied.afterwords balance of repay amt is appropriated to priciple loan.for example,u r repaying 5000 .bank has debited insurance charges 1000, monthly intt 3000 then only 1000 will be appropriated towords principle.
If you are still in school at least half-time, it is possible to make interest-only payments on your loan. If you are out of school, there are some payment options that may be available for you, based on special circumstances. Talk to your Loan Servicer to see if you qualify, or make an appointment with your Financial Aid Administrator if you are still in school.