Monday, November 14, 2011

Question about how my student loan payment is applied.?

I know there are NUMEROUS factors such as interest, loan repayment term, fixed or variable, etc. HOWEVER, just very generally, is it better to pay more on my student loan principal than the interest? My monthly payment is 600, I just paid my first installment TODAY; and it was applied as 500 towards the principal and 99 towards interest. Is this good or bad, GENERALLY. Thank you!

No comments:

Post a Comment