I'm praying that somebody here can help explain what happened so that I don't have to wait until Monday to talk to the student loan people. On Thursday, we submitted payments towards our student loans. The next day, Friday, it appeared that a day of interest had accrued, and the payments were still pending. The payments have now (Saturday morning) gone through, and the percentage that went to interest reflects the interest as it was on Friday. So, one additional day of interest was factored into the payment, and the amount of principal paid off was reduced by that much. But now, each loan shows TWO days of accrued interest sitting there unpaid. All the numbers add up perfectly (in terms of the new principal balances) if you assume that interest simply accrued on Friday, and THEN the payments were applied onto the new balances. But how is there now a two day accumulation of interest on all the loans? I'm trying to conceive of the possibilities. 1. The interest that we saw accrue on Friday was actually Thursday's interest? And so now we're seeing Friday's and Saturday's interest accrued? But if Thursday's interest didn't show up until Friday, why would Saturday's interest be showing up as early as Saturday morning? 2. There's double interest rates on the weekend? 3. They just steal an extra day of interest from you whenever you make a sizeable payment because they're mad...? I don't get it! Can anybody who has more experience with this kind of thing and student loans shed some light on what may have happened and which interest was from which day? Edit: For further clarification, the two-day interest accrued is on the post-payment principal balance of the loans. Edit 2: Maybe on Saturday interest for both Saturday and Sunday shows up?