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Pay off student loans the most quick
Hey,
I have a couple student loans that are coming into repayment and I would like to know how to calculate the method for paying them off the most quick. Basically I have 3 loans, and I am not willing to merge them into 1 loan because the interest will be higher than any single interest rate of my current loans. I have $1,000 to put to my loans every month and I am wondering how to break up the monthly payments to complete all the loans the fastest. The loan breakdown is below Loan 1: 6.75% $10,836 Loan 2: 3.4% $5,500 Loan 3: 4.71% $28,163 Thanks in advance! |
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