How much does the value of a $ drop per/year? Trying to factor that into my student loan payments, any advice?
Answers:1 | LastUpdateAt:2012-10-19 04:14:02
So obviously paying off a loan faster means paying less interest , I get that , but the $ loses value every year ( I've heard up to 3% ) . Whereas I just say about $ 80,000 in loans ( undergraduate and graduate school combined ) and opt for a loan of 35 years compared to 15 , now the difference will be huge interest , but in the latter part of loan payment 35 years aren ' t really paying way way less in terms of value . For some reason this does not speak , but it is common sense . MedlinePlus
Now I have a business that is growing and the money I put into it has been producing return , so perhaps it makes no sense to opt for the payment plan long term in view of the above ?
Answer1jwAnswered at 2012-10-19 04:12:52
I think not. I would like to pay as quickly as possible . The interest rates are ridiculous in student loans . If you have good credit , try to get a lower interest rate and pay it off by making additional payments frequently.
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Question:How much does the value of a $ drop per/year? Trying to factor that into my student loan payments, any advice?
