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Because interest is added to your loan daily, the interest charged when you make your payment is calculated based on the number of days since your previous payment. For example, if you make your first loan payment 30 days after your loan was opened, 30 days of interest will be deducted from your payment. If you then make your second payment 40 days later, 40 days of interest will be deducted. Though your interest payment will typically reduce over time as your principal balance decreases, more days of interest in between payments may increase the interest portion of your payment from one month to the next.