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Reply to "Pay off student loan interest before it capitalizes or credit cards?"
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[quote=Anonymous]I’m a financial dummy when it comes to understanding interest capitalization. Right now I have about $5,500 in credit card debt at 14.99%. I recently finished my Master’s degree and have about $75,000 in student loans with interest rates around 7% and an additional $5,100 in interest which will capitalize in June if I don’t pay it before then. I have $1,100 over my minimum payments each month to pay down debt. Does it make more sense to focus on the credit card interest, or should I try to pay down the student loan interest before it capitalizes? I’m not sure which would save me more money in the long run. [/quote]
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