ahead in college loan good idea?,10 yr diary :)
Today was the first day my payment was due on my college loan. I am supposed to pay $70 a month on the loan. My friend Amanda borrowed $200 from me and decided to pay me back. I bought a movie collection from my brother in order to help them out because they were in a tight pinch. I recieved in the mail by suprise sixty dollars in the mail from Neilsen Ratings. I took that money and what I had left from the money Mandy paid back and manage to pay a total of $190 on the loan. I know its sad but I am really excited on paying a bit more on my loan. I have been thinking every two weeks sending $50 in the mail for a grand total of $100 a month paid on my loan. I know it isnt much but its better than getting behind. Money is tight for me and I am trying the best I can just to get by!
Does paying extra on college loans benefit me in anyway or can I be punished for paying extra? This is the first loan I have ever had in my life and I have no idea the rules and regulations. Any information is appreciated.
When I told Kmart I wanted another job they volunteered to give me extra hours. I am grateful for these extra hours because that helps me pay on my bills that much more. I have realized this diary has mainly because a way to figure out how to save money or pay bills. I have changed so much in the ten years I have been typing on this diary. Yes I said ten years. I started this diary when I was sixteen I am twenty six now. I couldn’t imagine my life without this diary. I am sorry my life is so boring I promise to try to make it more amazing later… 🙁
You need to check with whoever granted you the loan. Some have penalties for early repayment, and some don’t.
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