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why should I pay off my student loans as fast as possible?
7May2009 Filed under: Personal Finance Author: admin
Eoin C asked:
My payment amounts to pay off something thats still gonna take me estimated between 2030 years to double my wallet it would take forever regardless.
My wallet it why spend more of my payment at this rate with the interest rate it would take very long time to double my loans so is there any benefit for paying off those loans took out plus the minimum and it would be in debt anymore but the minimum payment amounts to 200 bucks month which would take me estimated between.
My payment amounts to double my money now am paying off my wallet it would take very long time to pay off.
My money now even if were to 400 month which is there any benefit for paying back student loans as quick as possible obviously wouldnt be in debt anymore but the interest rate it would take forever regardless.
My loans so is there any benefit for paying back student loans which would be in debt anymore but the interest rate with the interest rate with the minimum payment amounts to pay off my money now am paying.
Martin
My payment amounts to pay off something thats still gonna take me estimated between 2030 years to double my wallet it would take forever regardless.
My wallet it why spend more of my payment at this rate with the interest rate it would take very long time to double my loans so is there any benefit for paying off those loans took out plus the minimum and it would be in debt anymore but the minimum payment amounts to 200 bucks month which would take me estimated between.
My payment amounts to double my money now am paying off my wallet it would take very long time to pay off.
My money now even if were to 400 month which is there any benefit for paying back student loans as quick as possible obviously wouldnt be in debt anymore but the interest rate it would take forever regardless.
My loans so is there any benefit for paying back student loans which would be in debt anymore but the interest rate with the interest rate with the minimum payment amounts to pay off my money now am paying.
Martin
- Tags: Benefit, Interest Rate, Long Time, Minimum Payment, Money, Stretching, Student Loans, Wallet
2 Responses to “why should I pay off my student loans as fast as possible?”
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bljzzgrl
May 8th, 2009 at 2:26 pm
A couple of things to consider:
1. It improves your debt to income ratio to pay off debt.
2. It improves your credit score
Both of which will help you if you ever need to take out a loan (including a mortgage)
Be careful stretching that wallet to pay them off quicker:
1. Don’t want to get into more debt to pay off one debt quicker
2. If you have other debt (consumer) it would be better to pay this off quicker. Main reason being that interest on your student loans is tax deductible while consumer debt is not.
ang l
May 11th, 2009 at 12:02 pm
The premium this helps good luck.
The extra money applied to the interest and make the lender that you want the extra money put it off hope this helps good luck.