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Reply to "How to minimize monthly interest ($550/month) accruing on student loans?"
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[quote=Anonymous]I have $125k in student loans at 5.125% interest. The minimum payment is $1,630 and I pay an extra $900 monthly for $2,530 total. In the past year, I've paid almost $7,000 in interest (about $550 a month) and I was wondering if there was a way to change my payments to minimize interest accruing? Would it make a difference if I paid $225 weekly instead of $900 at the end of the month? Is there anything else that I can do? [/quote]
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