- Category: Saving Money
- Published on Wednesday, 26 December 2012 12:18
- Written by MAP Financial Solutions
STUDENT LOANS – PAYING EXTRA TOWARDS PRINCIPAL
Paying extra towards your student loan principal is a great idea…but don’t get tempted one month to not make a payment when you see that you don’t have another payment due until June 2013. This drawn out due date is because you have paid additional towards the minimum payment.
You will still be paying interest on your balance the months you don’t make a payment. Your overall balance will grow due to the interest your collecting and also because you won’t be making payments.
Keep paying those suckers down!