E46Fanatics - View Single Post - Give me some advice on how to manage 180K student loan debt
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Old 07-06-2011, 04:18 PM   #21
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Join Date: Jan 2004
Location: Dallas, TX
Posts: 859
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Originally Posted by daonlydann View Post
Great great advice everyone. Thank you. I'm very surprised by what a car forum has to offer!

I heard that when you make a payment, you can always pay more than the minimum and it will be applied to the principal if you indicate so.

Soon I will be asking advice on my to budget! Boglehead is a great site thanks.
Well, you're in a knowledgeable sub-forum. not general OT

On my grad loans, I have the option of paying down principal or applying it to future payments. I paid a few hundred extra on each loan for the future to make sure I wouldn't incur any fees, but now all extra payments reduce principal.

Although in theory, either choice pays off the loan for the same amount.
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