FenrirIII@lemmy.world to Mildly Infuriating@lemmy.worldEnglish · 1 day agoMy student loan is gaining interest while I'm in school but I'm not allowed to start paying it off yetmessage-squaremessage-square65fedilinkarrow-up1213arrow-down16file-text
arrow-up1207arrow-down1message-squareMy student loan is gaining interest while I'm in school but I'm not allowed to start paying it off yetFenrirIII@lemmy.world to Mildly Infuriating@lemmy.worldEnglish · 1 day agomessage-square65fedilinkfile-text
What is this horseshit? Almost $2k in interest this year and it will not even let me throw money against the principal.
minus-squarewolfpack86@lemmy.worldlinkfedilinkEnglisharrow-up2·1 hour agoWhy not just borrow less this year and have a lower principal?
minus-squareqarbone@lemmy.worldlinkfedilinkEnglisharrow-up1arrow-down1·42 minutes agoAh, I see. I misunderstood their position. Yes, you should ask for a smaller principal loan, instead of just paying down the interest of a larger loan. A smaller principal is always best, but sometimes that is best served by paying down interest.
Why not just borrow less this year and have a lower principal?
Ah, I see. I misunderstood their position. Yes, you should ask for a smaller principal loan, instead of just paying down the interest of a larger loan.
A smaller principal is always best, but sometimes that is best served by paying down interest.