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.
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.
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