I just started school and I am already making a plan for paying off my student loans. As of right now I have two loans, each approx. 4000. As of right now I wanted to work on paying them off with $200/ month. At the end of each semester I will be getting back at least $1000 if my loans continue to be around $4000. 4 loans will bring out at 16000 (roughly) at the end of 4 years. I was going to take each of the $1000 and put it in CD's (2-4 year, 1-3 year, 1- 30 month, 1-2 year, 1- 18month, 1- 1 year, and 1- 182 days). At the current interest rates this should put me at $8359.94. I can then either pay half the loan and start my masters or I can keep it in the CD until I finsish my masters and continue the CD plan. Does this sound like a good plan or does someone know a better way to maximize my money in order to have as little as possible left over that comes out of my paycheck?
Asked by Anonymous at 10:30 AM on Oct. 17, 2010 in Money & Work
Answer by SherriPie at 11:27 AM on Oct. 17, 2010
Answer by tyfry7496 at 11:00 AM on Oct. 17, 2010
Answer by DevilInPigtails at 11:10 AM on Oct. 17, 2010
Answer by Erica_Smerica at 1:48 AM on Oct. 18, 2010
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