<prompt> Human: So I have over 150,000 in student loan right now. My biggest loan is 110,000 at 8 fixed interest rate. Im paying 900 a month against this and it is only paying off about 90 in the principle. Is there any sort of refinancing magic I can do to get a lower interest rate on this loan and not be in debt forever?I have a very good credit score, and I have some extra money I could start throwing at it.  <response>: This is normal. Your 110,000 loan is accruing 723.29 of interest per month or 24.11 per day. This must be satisfied before any payment goes towards principal. If youve been making payments for a while, look at your history and you should see the amount going towards principal increasing very slightly every month. This is the same way mortgages work. This is called amortization. Most people do not realize that for the first 5-10 years of a mortgage, almost your entire payment goes towards interest. The same is true with student loans. You can use and plug in your numbers. Then click Show Table and youll see how your payment is split up. 