Running Numbers

I have $42,000 in student loans. 
$34k of that is at a 6.8% interest rate, $1.2k is at 5%, and the rest is at 1.64%

I ran some scenarios using a tool that was here (at SALTmoney.org) but it's no longer available. You can find tools/calculators that will give you the same information here: 


Senario 1: Pay it off in 10 years = $483.34 per month


Senario 2: Pay it off in 9 years = $533.34 per month


Senario 3: Pay it off in 2 years = $1,400 per month

Senario 4: Pay it off in 10 years = start with a "small" monthly payment ($331.87) and increase it over time



Senario 5: Pay it off in 11 years if I defer for 6 months



I'll pick what's behind door number 3 -- $1,400 for 2 years. Uggghhh! @_@

I don't want to think about this any more right now. Here's a pretty picture of Mt. Olympus I took last week...just as a thank you for scrolling to the bottom :)



1 comment:

  1. I cannot find this tool. I signed up a SaltMoney.org and imported my load information. What am I missing?

    ReplyDelete

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