To follow in the great financial footsteps of my friend Leslie I decided to take a gander at my students loans and see how much of my monthly payment was actually going towards my principle balance...
I pay $112.58 (the absolute minimum) each month to Federal Student Aid. $95.58 of that goes towards interest, leaving $17.00 going towards my principle balance. At that rate it will only take me 79 years and a few months to pay off my student loans.
I'm home free!
Comments (1)
So right now, if you pay $17 on top of your minimum payment, that's like making TWO payments, $34 is like making THREE, etc.! If you can, and if you don't have higher-interest debt, pay just a little bit more every month...
Posted by Leslie | November 6, 2007 4:08 PM
Posted on November 6, 2007 16:08