Not exact matches
If you have federal student
loans and a) have too many different payments to keep track
off or
b) would like to qualify for different repayment plans like income - driven repayment or Public Service
Loan Forgiveness, consolidation might be a good idea!
First, if you have an outstanding
loan from your 401 (k) or 403 (
b) plan, get it paid
off.
With
B), it drops my car
loan down to $ 5700, getting closer to paying that
off, at which point I can reduce my insurance coverage and have ~ $ 400 less per month of bills.
If you have federal student
loans and a) have too many different payments to keep track
off or
b) would like to qualify for different repayment plans like income - driven repayment or Public Service
Loan Forgiveness, consolidation might be a good idea!
Payout the
loan B and close it
off.
I have a plan on paying
off my student
loan in 5 years (about $ 34,000) but I am also putting 2 % in my 403 (
b)(its what my company matches) plus saving up for my emergency fund and moving out.
To accomplish this, she mortgaged Property
B to pay
off the
loan on property A.
Can a student take out a
loan for let's say $ 17,000, pay -
off a school balance, and use the excess money for another school (transferring from school A to school
B)?
Well, it makes sense (mathematically) to have the student -
loan debt and pay
off credit card debt first,
b / c credit card debt is usually higher.
I think paying back that
loan in the least amount of time is probably the best way to get yourself out of the emergency situation,
b / c like you mentioned, you could get laid
off, or fired, then you will be stuck with paying back the
loan.
(a) A matched 401 (k) should always be the first priority, even before paying
off the 18 % credit card sooner, (
b) next comes the high interest cards, (c) the lower interest debts including the car
loans, (d) the emergency fund.
But I saved so much money on interest because a) I was deducting large amounts of money from the principal amount owed so that lowered the interest accruing on the whole amount, and
b) Having time to pay part of the
loan off without it gaining any interest while it sat on my 0 % interest credit card helped as well.
Textron Financial Corporation, Alpharetta • GA Recovery Specialist 2009 — 2011 Strategically transitioned to $ 875M Financial Services division to oversee recovery process for delinquent / charged -
off client
loans for this $ 14.2
B Fortune 500 conglomerate.
30 Year Fixed Rate
Loan at a Cost of One Point: 3.625 % * (APR = 3.86 %) Rates improved
b / c of economic news and
b / c of Fed Comments about backing
off on pending rate increases.