Gregory Pettigrew (etherial) wrote,
Gregory Pettigrew
etherial

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Money

So, I'm down to just the one student loan group over at Sallie Mae. It's currently at just over 7% interest and about $10,000. For some reason, I don't have any bills due until November, but I've been paying $200 a month (Even when Nov. comes around, only $180 will be due). Many of the people reading this have experience with loans, both student and otherwise. On the one hand, I'd like to keep paying it off, as making payments nets me money in the long term due to the difference in interest between the loan and my savings account. On the other hand, I'm saving up to buy into Camelot (i.e. a condo), which means I need money in that savings account in the short term. What do you suggest I do and why?

Poll #993284 Paying off Student Loans

What should I do with my student loan?

Continue paying every month
8(80.0%)
Wait until payments are due again
0(0.0%)
Refinance
2(20.0%)

When making payments, I should...

Pay the minimum
0(0.0%)
Pay a regular amount larger than the minimum
8(80.0%)
Pay with every spare penny
2(20.0%)
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