All Questions
8
questions
1
vote
3
answers
225
views
What would the formula for loan payoff with daily compounded interest and paid 5 days per wk?
I'm interested in calculating the impact of making payments on my student loans daily (5 payments per wk).
For example my current loan is 50,000$ @ 5.05% interest compounded daily. The term of the ...
- 11
3
votes
6
answers
652
views
In what order should I decrease my loan debt?
I currently have federal student loans, and a personal loan I took out for college. Below are my percentages for each. I am wondering which loans I should start paying off first to ultimately not ...
- 521
2
votes
2
answers
948
views
Should I pay off my student loan in the UK before getting a mortgage?
I've had a search around and there is a similar question here and maybe here. However, I think this use-case is slightly different (not to mention those answers are US based), and also the answer to ...
- 121
0
votes
1
answer
183
views
Which student loan is better to make a lump sum payment
I have $15,000 that I am trying to put towards one of my loans. Right now I have two loans
$14,000 3.7% variable interest, 10 years, $140 monthly payment
$30,000 7% fixed interest, 15 years, $260 ...
- 13
2
votes
1
answer
502
views
Student Loan Balance question
My wife and I have recently paid off our auto loans and are trying to tackle our pesky student loan debt next. Following the "debt snowball" pattern, we've applied our monthly car loan payment to my ...
- 187
0
votes
1
answer
163
views
What to consider when taking out a student loan from a bank?
I am currently in a bit of a pickle as I am taking summer classes at a University (at which I am a student), and my father was denied the parent PLUS loan which I was depending on to pay rent and buy ...
- 103
14
votes
4
answers
3k
views
Can someone help me understand my student loans?
I have more loans than these but I am wondering how to handle these three (all with the same bank):
3%, last payment ~$36, current balance $6153, original amount $5500, payoff balance $6170
2.5%, ...
- 719
23
votes
3
answers
4k
views
Paying off student loans early/lump sum -- best practices?
My wife & I have run into a large sum of cash recently and are interested in paying off/paying down our student loans -- about $30k between us, at about 6.5% avg interest.
We're both earning ...
- 233