RE:Answer to the question on CEO.CABetter explanation. Ascendant is going to college. Tuition is $130million. Since Ascendant has no income, they take out an addition $60million to cover their monthly interest owed on their loan so they don't default and get kick out of school. 18 months later, Ascendant graduates and enters the workforce. Their monthly loan payment shows up in the mail. They look at it and wonder why the loan is still at $190million when they've made all these payments. Someone explains that interest only payments are totally different from principal payments. Hopefully, they whine to Biden and he eliminates it for them. :)