Home > Student Loan Payment

Student Loan Payment

November 17th, 2023 at 09:22 am

My goal for November is to pay at least $500 towards my student loan principal.

Wednesday I made a payment of $300, of that about $92 went towards the interest.  As of yesterday my new balance is $30,501.74, of that, $5.74 is interest. 

I'm estimating by the time I make my next payment, of about $500 on the 30th, the interest accumulated would be about $86.10. With every payment I do see a slight decrease in interest. It's just frustrating, because I will come in just under my goal amount but oh well 

I have to admit, I'm thankful for the ability to pay, so many aren't able to. 

1 Responses to “Student Loan Payment ”

  1. Lots of ideas Says:

    Amber, not following your math.
    Your goal is to reduce your loan balance by $500, right?
    You paid $300, and that reduced the balance by $208.
    If you pay the planned $500, less the interest, that will reduce the balance bt $414.
    You are $124 over your goal…

    You are doing great!

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
Will not be published.

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]