Interestingly I came across this article https://thefinancebuff.com/is-home-mortgage-simple-interest-or-compound-interest.html https://thefinancebuff.com/is-hom

Interestingly I came across this article https://thefinancebuff.com/is-home-mortgage-simple-interest-or-compound-interest.html https://thefinancebuff.com/is-home-mortgage-simple-interest-... I think as the article pointed out we might've different standards in referring to what is compound interest. But my original point is that I thought consumer loans would not incur interest-on-interest (as in if you're late in payments for your car loan, the interst "compounds" due to higher unpaid principal, but the missed interest would not add to the principal), which seems not be the case for student loans as per the author.