Student Loans from Sallie Mae and payment?
I got a payment plans from Student loans Sallie Mae with details. Basically, I am owned about $14,000 in principal balance and $8,000 for just interested alone. The payment to be made in 173 payments in amount of $134.
My question is what if I pay off $14,000 right now. Would I still be responsible for $8,000 or any interest at all? Thanks
no. interest accumualtes over time. the sooner you pay it off the less interest you have to pay. so if you pay 14k all in full now, they cant get you with the interest. so if you have then money i would do it. if not just pay as much as possible every month. so if the payments are 134 a month, paying 500 a month can pay it off in no time. good luck.
