What increases your total loan balance ?

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Your total loan balance increases when you accrue interest, take out additional loans, or incur fees or penalties. Interest accumulates over time on the principal amount borrowed, adding to the total owed. Additional borrowing increases the overall debt amount. Fees and penalties, such as late payment charges or loan origination fees, also contribute to the total loan balance. Consequently, any action that adds to the outstanding debt or incurs additional costs will raise your total loan balance.

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