A few days ago
Student Loans Repayment?
I have loan of $6250..20 years to pay it off..Annual % rate of 11.960..Finance Charge of $18,100.40. Totaling $24,350.40..If I pay off the loan early, lets say less then 10 instead of 20, would the finance charge be the same?
Top 1 Answers
A few days ago
Favorite Answer
It depends on the terms of your loan. Student loans are like any other loans, in there is usually some type of “penalty” for paying it off early. The penalty for early pay-off is usually still less in the long run.
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