Friday, July 3rd, 2009
student loan deferment–interest? worth it?
happypants asked:
i’m considering getting a student deferment, but was wondering if it still collects interest during the deferment?
i’m considering getting a student deferment, but was wondering if it still collects interest during the deferment?
i might now do it because i feel like it would take 2x as long to pay it off if it collects interest since the base pay will remain the same and then w/ interest will be higher and then higher with higher upon interest!
do you recommend student deferments?
i have a 3 month old baby and need extra dough. i’m trying to find a new job. i can pay my bills, but have little left over. dont know if deferment good in the long run
or should i say hell w/ it since no one really pays there loans back anyways
i have 29,000 in student loans
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July 6th, 2009 at 1:18 am
It depends on if the loan is subsidized or unsubsidized. I would strongly recommend paying back what you can…If you do put it into deferment, try to send them at least some interest every month. They will capitalize your interest…meaning, the interest will continue to add up each month, and then they will roll it into the principal amount, and that interest will cause you to pay interest on top of that. Pay them what you can each month…even if it is just a little bit. Try to stay on top of the interest or it can get out of hand!