Saturday, December 6, 2014

Student loan numbers for 2014

Okay, I couldn't wait!  Here are the figures for my student loan debt for 2014.

Amount paid to student loan: $5,524.74
Amount Paid to principal: $4,753.79
Amount Paid to Interest: $770.95

Note: I will likely make one more payment on these loans on December 31, 2014. That amount should be included in these totals, but I'm a nerd and I wanted to see the final figures.

Frankly, these numbers are disappointing. However, when compared to the figures that would have resulted had I only made the minimums the numbers are great.  See below for the totals if I had only paid the minimums.

Amount that would have been paid toward student loans: $2,428.44
Amount that would have been paid toward principal: $1,500.00
Amount that would have been paid toward interest: $928.44

Note: these figures are loose approximations.  I did not actually go through and do the necessary calculations to figure out the exact numbers. 

No comments:

Post a Comment