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re: Student Loans
Posted on 4/23/24 at 8:21 pm to Abundy007
Posted on 4/23/24 at 8:21 pm to Abundy007
Well the truth is most people who invest in stocks and try to do their own research and ways and not the typical mutual funds, Berkshire, S&P 500 are not making 8% a year. You have a penalty too. I'd just make larger chunk payments.
Posted on 4/24/24 at 7:38 pm to Abundy007
Are they federal loans? If so her payment won't be jack and even without public service/non profit employment they will be forgiven in 20 years of payments.
Mine will be forgiven in 10 years of payments and even making more than the national average household income alone on the new payment plan I have two years of ZERO payments and they are making them even more generous later this year. I might go 3-4 years of $0 payments and every one is a payment closer to my 120 for working for a non profit. Even if I do have to make full payments in a few years I will save a ton of money from basically getting free years of repayment. I don't care about the balance, just the # of payments, and with the new rules the balance doesn't go up even if you don't pay for all your interest.
I am not saying I agree with any of these new student loan repayment rules, but I am sure as hell am going to take advantage of them. Tax man gets me everywhere else.
Mine will be forgiven in 10 years of payments and even making more than the national average household income alone on the new payment plan I have two years of ZERO payments and they are making them even more generous later this year. I might go 3-4 years of $0 payments and every one is a payment closer to my 120 for working for a non profit. Even if I do have to make full payments in a few years I will save a ton of money from basically getting free years of repayment. I don't care about the balance, just the # of payments, and with the new rules the balance doesn't go up even if you don't pay for all your interest.
I am not saying I agree with any of these new student loan repayment rules, but I am sure as hell am going to take advantage of them. Tax man gets me everywhere else.
Posted on 4/25/24 at 3:44 pm to Abundy007
you should have picked a cheaper school
he saddled his daughter with over $100k in debt if you are just paying minimum because thats how much you will pay over the life of this thing at 8%.
quote:
First off, you are a good guy and great parent for helping your kid(s).
he saddled his daughter with over $100k in debt if you are just paying minimum because thats how much you will pay over the life of this thing at 8%.
This post was edited on 4/25/24 at 3:48 pm
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