http://raiseyourcreditnow.com/how-do-student-loans-work-once-i-start-paying-them-back-do-i-have-to-pay-back-consistently/ Wed, 17 Aug 2011 05:23:38 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://raiseyourcreditnow.com/how-do-student-loans-work-once-i-start-paying-them-back-do-i-have-to-pay-back-consistently/comment-page-1/#comment-1407 2Beagles Wed, 26 Aug 2009 17:31:48 +0000 http://raiseyourcreditnow.com/how-do-student-loans-work-once-i-start-paying-them-back-do-i-have-to-pay-back-consistently/#comment-1407 It seems like everyone who answers on this subject just refer you to a website. Here's my knowledge so far on my son's student loan... He just got accepted for his first fiscal year in school and the fine print states that if you pay $1000 when your payment is only $250 (example), then your next payment wouldn't be due until after those other payments are paid from what was left of the $1000, meaning, you have an extra three months of payments paid from that money before you had to pay again. Make sense? But no matter if you overpay or pay monthly, you do need to make sure you pay on time, or it could affect your credit rating. I'm not sure what you're saying on your second part, but all loans have a minimum payment due each month, if that's what you're talking about. So what it comes down to is that you can always pay more than what you owe. No bank will turn down money early. It seems like everyone who answers on this subject just refer you to a website. Here’s my knowledge so far on my son’s student loan… He just got accepted for his first fiscal year in school and the fine print states that if you pay $1000 when your payment is only $250 (example), then your next payment wouldn’t be due until after those other payments are paid from what was left of the $1000, meaning, you have an extra three months of payments paid from that money before you had to pay again. Make sense? But no matter if you overpay or pay monthly, you do need to make sure you pay on time, or it could affect your credit rating. I’m not sure what you’re saying on your second part, but all loans have a minimum payment due each month, if that’s what you’re talking about. So what it comes down to is that you can always pay more than what you owe. No bank will turn down money early.

]]> http://raiseyourcreditnow.com/how-do-student-loans-work-once-i-start-paying-them-back-do-i-have-to-pay-back-consistently/comment-page-1/#comment-1406 Aleema D Wed, 26 Aug 2009 16:33:18 +0000 http://raiseyourcreditnow.com/how-do-student-loans-work-once-i-start-paying-them-back-do-i-have-to-pay-back-consistently/#comment-1406 i hope this site helps a bit i hope this site helps a bit

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