REVscene Automotive Forum - View Single Post - Student loan repayment... sell the car? grind it out? your advice is appreciated.

6793026 · 06-01-2015, 04:57 AM

Even I'm "too young" to figure out a way to beat the interest rate.

Pure and simple. Interest gain > load interest.

Yes it does mean you get to pro-long not paying back, but bottom line, you still have to pay. When I did the math, I would "earn" close to nothing... which I said fuck it.

For sake of math and at best case:

$20,000, you earn 10% interest per yr at best
cost of student loan is 2.69%
Difference is still 8%.
that's $1600 per year or 133.33 per month.

I said fuck it; lesson learned, don't want to deal with all the debt BS and paid it off.

06-01-2015, 04:57 AM	#18
6793026 RS.net, helping ugly ppl have sex since 2001 Join Date: Apr 2004 Location: GTA, BC, HK Posts: 8,398 Thanked 2,939 Times in 1,287 Posts Failed 171 Times in 78 Posts	Even I'm "too young" to figure out a way to beat the interest rate. Pure and simple. Interest gain > load interest. Yes it does mean you get to pro-long not paying back, but bottom line, you still have to pay. When I did the math, I would "earn" close to nothing... which I said fuck it. For sake of math and at best case: $20,000, you earn 10% interest per yr at best cost of student loan is 2.69% Difference is still 8%. that's $1600 per year or 133.33 per month. I said fuck it; lesson learned, don't want to deal with all the debt BS and paid it off.