Timeline for Student Loan Balance question
Current License: CC BY-SA 3.0
7 events
| when toggle format | what | by | license | comment | |
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| Apr 13, 2017 at 12:25 | history | edited | CommunityBot |
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| Apr 19, 2016 at 15:01 | vote | accept | jtlovetteiii | ||
| Mar 13, 2016 at 20:50 | answer | added | mhoran_psprep | timeline score: 6 | |
| Mar 13, 2016 at 20:36 | comment | added | user132278 | Do you have previous quarterly or annual statements on this loan? What about from the beginning of the loan term? If so, what do they say the remaining principle is? It looks like the initial principle was around $24k according to what you have posted so far. | |
| Mar 13, 2016 at 20:30 | comment | added | jtlovetteiii | @user132278 The loans have a fixed interest rate of 6.8% over a 10-year "standard" repayment period. The reason the interest payments fluctuate is due to the payment date (which is why I included it in the chart). As best as I understand it, if I paid on the exact same day each month, the interest would decrease by exactly $1.00 each month over the life of the loan. Paying earlier than the due date (14th of each month) means less interest had accrued since the last payment. Although, I could be mistaken--I know what my loan statement says, but I don't pretend to be an expert by any means. | |
| Mar 13, 2016 at 19:31 | comment | added | user132278 | This looks like you are getting a wildly variable interest rate on your loan. What are the specific loan terms? I.E how long is each of the original loans for, and at what interest rate(s)? Is the combined loan for a different term and rate? | |
| Mar 13, 2016 at 19:08 | history | asked | jtlovetteiii | CC BY-SA 3.0 |