Current Events > What do you do about the student interest loan thing

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ConfessPlease 03/14/20 8:56:00 PM #1:	When they get my payment, will it just be lower minus a the interest? Or will the payment be in full and just go straight ot principal? --- The Heart Wants What It Wants <cite>ConfessPlease posted [p:935684426] in What do yo... [t:78473680]...</cite> <quote>When they get my payment, will it just be lower minus a the interest? Or will the payment be in full and just go straight ot principal? </quote> ... Copied to Clipboard!
ConfessPlease 03/15/20 6:11:24 PM #2:	Bump --- The Heart Wants What It Wants <cite>ConfessPlease posted [p:935720822] in What do yo... [t:78473680]...</cite> <quote>Bump </quote> ... Copied to Clipboard!
Atralis 03/15/20 6:24:02 PM #3:	... guessing you werent a stem major. The interest rate is on the amount owed. If you owe 100,000 with a 5% rate that is 5000 a year. If you pay it down to 50,000 then the interest portion is $2500. If you pay more than the part that goes to interest it goes to the principle and it lowers the loan amount. <cite>Atralis posted [p:935721298] in What do yo... [t:78473680]...</cite> <quote>... guessing you werent a stem major. The interest rate is on the amount owed. If you owe 100,000 with a 5% rate that is 5000 a year. If you pay it down to 50,000 then the interest portion is $2500. If you pay more than the part that goes to interest it goes to the principle and it lowers the loan amount. </quote> ... Copied to Clipboard!
ConfessPlease 03/15/20 6:28:03 PM #4:	Atralis posted... ... guessing you werent a stem major. The interest rate is on the amount owed. If you owe 100,000 with a 5% rate that is 5000 a year. If you pay it down to 50,000 then the interest portion is $2500. If you pay more than the part that goes to interest it goes to the principle and it lowers the loan amount. I'm a cpa...i know how interest and payments works. I was asking how the new policy that they rolled out for 0 interest rates will work. I figured they were lowering payments for short term relief for people. But sounds like the payments will remain the same and all go to principal. Wouldn't it be more beneficial for people to not collect payments this month with 0 interest to help defer those payments as people have to pay for daycare and lost revenue? --- The Heart Wants What It Wants <cite>ConfessPlease posted [p:935721452] in What do yo... [t:78473680]...</cite> <quote>Atralis posted... </cite> <quote>... guessing you werent a stem major. The interest rate is on the amount owed. If you owe 100,000 with a 5% rate that is 5000 a year. If you pay it down to 50,000 then the interest portion is $2500. If you pay more than the part that goes to interest it goes to the principle and it lowers the loan amount.</quote>I'm a cpa...i know how interest and payments works. I was asking how the new policy that they rolled out for 0 interest rates will work. I figured they were lowering payments for short term relief for people. But sounds like the payments will remain the same and all go to principal. Wouldn't it be more beneficial for people to not collect payments this month with 0 interest to help defer those payments as people have to pay for daycare and lost revenue? </quote> ... Copied to Clipboard!
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