[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 38 KB, 657x527, 880.jpg [View same] [iqdb] [saucenao] [google]
11097708 No.11097708 [Reply] [Original]

So in theory, since student loans accumulate interest on a daily basis, couldn't you pay off student loans faster if you made weekly payments rather than monthly? Obviously I'm talking about equivalent payments, i.e. $400/month vs. $100/week. In doing so, wouldn't you be more frequently reducing the principal on which the daily interest is accruing?

>> No.11097729

That last sentence read very well. Thank you for posting.

>> No.11097763

>>11097708
Yes my dear

>> No.11097775
File: 31 KB, 550x550, flat,550x550,075,f.jpg [View same] [iqdb] [saucenao] [google]
11097775

>>11097708
pee pee poo poo

>> No.11097812
File: 82 KB, 1280x720, 1535660130284.jpg [View same] [iqdb] [saucenao] [google]
11097812

>>11097708
I think you are right, but your point is outweighed by there being more than 4 weeks in a month. In the end you will pay them off faster more because of that I think.

>> No.11097843

>>11097708
well $400/month is $4800/year and $100/week is $5200/year so yes.

>> No.11097854

>>11097708
Or you could just pay it all off in one payment, dipshit.

>> No.11097858

>>11097708

Maxing out student loans with 0% interest here

>> No.11097886
File: 55 KB, 903x960, 1D3CFA42-29B4-4FB1-B718-EC85FA5BD4F9.jpg [View same] [iqdb] [saucenao] [google]
11097886

>>11097812

>> No.11097913

>>11097858

Balance transfer to a 0% credit card?

>> No.11097952
File: 148 KB, 762x1048, Dhalsim.jpg [View same] [iqdb] [saucenao] [google]
11097952

>>11097708

We need a Student Loan Bingo Card image; it would be useful on multiple boards.

It could have shit like: "Scholarship Master Race," "Women's Studies LOL," and "My summer job paid my tuition and books" for the squares.

>> No.11098146

>>11097913

No my gov (holland) is just cucked and I take full advantage of it. Gonna add another 0.2 btc to my stack bankrolled by the fucking gov. Gonna wait for as long as possible to pay back my 0% interest loan so inflation (and god willing, hyperinflation) decreases the debt weight.