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Student Loan Payment

September 29th, 2023 at 11:49 am

Today’s student loan balance is $31,941.17 of that $84.17 is interest. 

 

I paid $500.17 today, therefore $84.17 should go towards the interest leaving a balance of $415.83 to be applied to the principal. 

 

With the payment made today the balance  should be $31,441.00. Given that it takes 2-3 days to post any payments, I’m thinking by Monday my actual balance should be about $31,459, this includes the $6 a day accrual of interest. SMH 

 

Next pay date is October 13th, I’ll only be able to add about $200 to the student loan. That’s about 13 days, at $6 a day the interest would be about $178. So just over $100 will go towards the principal. SMH. 

 

I’m going to keep chipping away that this. 

 

I also paid an extra $25 on the Home Depot card. The interest is set to zero until 2024. 

Posted in Debt | 2 Comments »

2 Responses to “Student Loan Payment ”

  1. Brunette Says:
    September 29th, 2023 at 05:28 pm 1696008526
    1696008526

    I'm in a similar boat to you, except mine is with credit card debt. Today was payday and we were able to send $2002 towards our credit card, but I just hate the interest that eats up part of the payment! Good luck to you and keep plugging away.

    Any payment you make above the interest is progress! Just being able to keep up with the interest is awesome! Good luck and I said a little prayer for you about your work situation!

  2. Amber Says:
    September 29th, 2023 at 08:43 pm 1696020232
    1696020232

    Thanks Brunette, I appreciate your kind words. Good luck to you as well.

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