I have a loan through Sallie Mae like several other former college students. Recently I noticed that my loan has gotten bigger since I first got it in 2006. It is now $200 higher then what it was in 2006. When I asked about this I was told that there is a daily interest rate that is added to every loan every DAY not every month every DAY. I have been double my payment since 2008 and yet my loan still goes higher where is my money going? After posting a very aggravating comment on facebook I found out that there were several others that strongly dislike Sallie Mae because their loans also have gone it up since they first got them some up to $4000.00 more then their intital loan. One lady pays over $500 a month and yet her loan continues to go up. How are people to pay off their loans if the amount continues go rise?? What is the point to pay more then your payment if it isnt going to make a difference if the loan continues to go up?? I thought paying more on your loan amount was suppose to get it paid off quicker, not when you have loan with sallie mae!!!