Posted on: 24th Aug, 2010 07:45 pm
I owe $90690.00 in law school loans and have been paying them monthly for 9 years so far. I have been paying 720 per month for a while now. The average interest on all six loans is 4.67. These loans have been consolidated hence the one monthly pymt.
I want to structure my paymts as follows:
Monthly $730
Extra Paymt to Prinicipal per month $170
One time yearly payment $2500 for the next 6 years
My question is when would I finish this loan off? My calculations without the yearly payment show that I would be done in 13 years without including the yrly pymt of $2500. I have not been able to find a calc to help me figure this out and would appreciate your help.
I want to structure my paymts as follows:
Monthly $730
Extra Paymt to Prinicipal per month $170
One time yearly payment $2500 for the next 6 years
My question is when would I finish this loan off? My calculations without the yearly payment show that I would be done in 13 years without including the yrly pymt of $2500. I have not been able to find a calc to help me figure this out and would appreciate your help.
Hi bankmanbb,
You can check out the given page below in order to find a "student loan amortization schedule" calculator:
"http://www.studentloansed.com/calculators/student-loan-amortization-schedule.htm"
Take a look at it. I hope it'll help you.
Thanks
You can check out the given page below in order to find a "student loan amortization schedule" calculator:
"http://www.studentloansed.com/calculators/student-loan-amortization-schedule.htm"
Take a look at it. I hope it'll help you.
Thanks