I have a loan application/promissory note for a new private student loan for which I selected a "Pay only interest while in school" option. After being approved and receiving the money, and waiting 3 months for a payment schedule, I now find out that the loan company instead set up a "Defer principal and interest payment" method. They are now capitalizing my loan and the principal is increasing. They have told me over the phone they will "request" a change but gave no promise that they will honor the terms in my original application/promissory note. And the principal has already increased. What recourse do I have if they refuse to honor the terms in my note?
State: Texas

