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I have like 6 or 7 and the payment is all through fed loan.
can't wake up
I used Sallie Mae but not all my loans were from them. The system is pretty convoluted but some were from different lenders some were direct from the Feds, etc.
Obummer revamped the system since but it was convenient to just pay one bill at one rate. Nowadays you lose stuff like IBR or whatever if you consolidate but it sounds like that's not a problem for you.
I have like 6 or 7 and the payment is all through fed loan.
There are different plans now that adjust to your total income, etc. I owe around 55k, but I'll only have to pay around $150 a month (for 22 years). It's a long time, but it's a comfortable payment for now. I plan to pay more than the required amount, too.
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I feel for you guys. I am so happy to have that monkey off my back.
What is the APR? You might want to pay more every month if you can.Originally Posted by Melf
Fixed.
I pay the minimum on mine and have no plans to pay more as my interest paid is never enough to hit the deductible cap so I gain nothing by paying off early.
You sir, are a hideous hermaphroditical character which has neither the force and firmness of a man, nor the gentleness and sensibility of a woman.
Assuming you have savings and invest them, you might want to compare your return and APR. The APR is your riskless return so unless your portfolio can beat the APR by a big margin, it is probably better to pay off your loan early.
Not sure I follow. I'm paying approximately $700 a year in interest, of which 100% is tax deductible, so I am in essence paying 0% interest since it all comes back to me at tax time.
You sir, are a hideous hermaphroditical character which has neither the force and firmness of a man, nor the gentleness and sensibility of a woman.
I paid over 4000 in interest the first and second years out of college. This year it was like 3600 to 3800. Only 2500 of it was deductible. I'd need to dump another 10k into these lame shits to get low enough to not care.
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