ST Alpha - "aaaaand I'd like to talk about student loans. somehow, I have paid my student loans three months ahead. oops! obviously I should make principal only " (Reading a Post)

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aaaaand I'd like to talk about student loans. somehow, I have paid my student loans three months ahead. oops! obviously I should make principal only

Posted by amanda jones (aka amanda) Oct 24 '11, 12:33

payments for the next three months in the amount of my loan payment, right?

*or should I go shoe shopping* with one month's worth of loan??

Responses:

My sister paid her loans off every month and they kept screwing up on applying the payments. - the liioulu with scone Oct 24, 12:39
shoes. -- nm - TFox Oct 24, 12:39 2
- you know how much I loved you last week? 10% more now. -- nm - amanda jones Oct 24, 12:43 1
  - ST is so rigidly strict about other people's budgets and finances. - TFox Oct 24, 12:44
[deleted] 10
- I'm just talking about taking *one* month off. not three. I may have a shopping disorder but - amanda jones Oct 24, 12:38 9
  - [deleted] 5
    - oh, I pay them actively. like, every month I schedule my payment via BoA, so it's my thing to make sure it gets paid, but thanks, -- nm - amanda jones Oct 24, 12:44 4
      - [deleted] 3
        
        it literally takes me a three-minute bus ride to pay all of my bills each month now, so I see no upside in automating. - amanda jones Oct 24, 12:48 2
        
        [deleted]
        
        i do my bills like this: every time i get paid (twice monthly) i pay any outstanding bills. so, anything i've got in the past two weeks gets paid - Andie Oct 24, 12:50
  - Well, yes you do have a shopping disorder, but if you face up to it how will live vicariously through you. -- nm - the liioulu with scone Oct 24, 12:40
  - he has a point. I recall having a similar situation where I paid ahead, then missed a month, and it hit my credit score. - loosilu Oct 24, 12:39 1
    - it says zero is due. I'm going to ring them tonight to see how this happened -- it's not like I ever overpaid, I don't think. -- nm - amanda jones Oct 24, 12:41
Shoes! The economy needs it. -- nm - con_carnage Oct 24, 12:35
as dawson mentioned when he did this, i think they still keep accruing the interest despite the advance payments - poxie Oct 24, 12:35 1
- they do. I know it's a dumb move. but I'm doing IBR next year, so I don't care very much. - amanda jones Oct 24, 12:36
shoe shopping! - bad idea bears Oct 24, 12:34
if high interest rate, pay loan. -- nm - loosilu Oct 24, 12:34 8
- 6.8% student loans. student loan rate. -- nm - amanda jones Oct 24, 12:37 7
  - i consolidated my to 4.25. maybe the only smart financial decision i've ever made in my life -- nm - poxie Oct 24, 12:39 5
    - I wish I could. with IBR, I should save about $125 per month next year. that's not insignificant. - amanda jones Oct 24, 12:40 4
      - this is my dilemma. when the time comes (soon hopefully) that i have my credit card and back taxes paid down, where do i put the windfall? - poxie Oct 24, 12:43 3
        
        I would probably do the IRA. assuming the interest rate on the IRA will be higher than 4.25%, it's the smarter bet. - amanda jones Oct 24, 12:46 2
        
        i just want that debt *gone* though. as fast as possible, even at a relatively low interest rate -- nm - poxie Oct 24, 12:48 1
        
        yeah, I hear you. (can you do IBR? do you qualify?) -- nm - amanda jones Oct 24, 12:49
  - not so bad. -- nm - loosilu Oct 24, 12:38

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aaaaand I'd like to talk about student loans. somehow, I have paid my student loans three months ahead. oops! obviously I should make principal only

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