Timeline for Paying Off Student Loans Early
Current License: CC BY-SA 3.0
4 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Jan 19, 2016 at 16:31 | comment | added | JTP - Apologise to Monica♦ | No math or any manipulation is required to give you an ROI, it's the rate of the loan. Your chart implies some ideal thing happens at a 5 year payoff. As if the extra $150/mo to drop to 4 years has some diminishing return, or worse, that a 9 year payoff would be bad regardless of other financial considerations. | |
| Jan 19, 2016 at 3:53 | comment | added | Josh Broadhurst | I do have 401k matching but not until I've worked for a full year. I have no credit card debt, and I am living with my parents. I'd like to pay them back for the money they contributed to my degree (and to make sure they have a good retirement). I'm not sure if I'd consider the ratio meaningless - I was trying to express a notion similar to ROI but with discretionary income as a factor. | |
| Jan 19, 2016 at 3:22 | comment | added | Ben Miller | +1 for eliminating credit card debt and considering the 401(k) match before focusing on this debt. | |
| Jan 18, 2016 at 22:00 | history | answered | JTP - Apologise to Monica♦ | CC BY-SA 3.0 |