This month I made a one-time $3,000 payment to my student loan account and now I have about $4,400 left.
I can either leave the loan balance as it as and continue making minimum payments. I will have the loan pay off by March 31st, 2006. Or I can just pay off the whole balance this month and not have to worry about it next year. Either way it will only affect my credit report and score for the better, so I’m excited about that.
The money will come from the 0% APR credit card promotion, and I can either invest that money or pay off my student loans. The loan interest rate is at 3.87%.