We refinanced our variable rate student loan to a 15 year fixed rate loan. This saves us time and money, to the tune of $5000 in saved interest costs and 1 year of saved payments. We discuss when it makes sense to refinance and save the difference.
Tag Archives: #studentloans
Finance: ARM interest template
We share a downloadable Adjustable rate / Variable rate template to see the impact of higher interest rates, higher payments, and longer term on paying off our house mortgage.
Finance: What helps you most with FAFSA?
In today’s piece, we’ll cover the combination of income and assets that best helps you with FAFSA (Free Application for Federal Student Aid). Those can include parents income, parents assets, students income, and students assets.
Finance: The SAVE program changes interest capitalization for the better
The new SAVE student loan repayment plan has a big benefit regarding interest capitalization to make life easier. We add to our previous coverage of the SAVE plan.
Opinion: College preparation is stressful
A rant on the stress of college preparation and admission.
Finance: The new SAVE student loan plan can help millions
The new SAVE student loan repayment plan is out. It has the potential for millions of people to reduce what they pay on their loans and get out of student loan debt.
Finance: A good loan interest calculator
We found a good total loan interest calculator that is easy to use. We walk through our own personal example of how much we save from extra payments on our student loans.
Why we’re reducing use of our SoFi credit card
Why we’re moving away from SoFi credit card, after recommending it for so long.
How $2000 saved us $6000
How $2000 pre-paid towards our student loans save us more than $6000 in lifetime interest
Variable rate student loans will cause future problems
A recent check of our variable rate student loans shows our interest climbing to dangerous levels, levels where the payment is insufficient to cover interest. What are our options?
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