Kiplinger.com Community - powered by vBulletin Kiplinger.com
Starting Out Investing Your Money Spending Wisley Your Retirement
Kiplinger.com Channels




Go Back   Kiplinger.com Community > COLLEGE > Student Loans
User Name
Password
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read


Reply
 
Thread Tools Search this Thread Display Modes
Old 04-09-2009, 11:13 AM   #1
m3toocool
Registered User
 
Join Date: Jan 2007
Posts: 2
Private loan 64k

Hey everyone i am in a little pickle, but better now that i have a job...lol

So i have a reconsolidated loan that is at $63000 at a 6.0% Variable rate through wells fargo. Now i make 65k a year at my new job. This is the only debt i have, I use an AMex so i don’t monthly credit card bills. My question is what is the best way to quickly pay this off. Should i just pay the minum and put money in to stocks or saving and wait till i have cash or should i start paying more then the monthly "$550 dollar or so payment its been.

My next question is that wells Fargo said they won’t give me a 1080 for my taxes. Can i still write off the interest even after i reconsolidated



Thanks everyone

~Brand
m3toocool is offline   Reply With Quote
Old 05-28-2009, 11:11 AM   #2
zimma13
Registered User
 
Join Date: May 2007
Posts: 3
They might not supply you with an actual 1098, but it might just be a letter. Either way they legally need to tell you how much you paid in interest. You'll pay well in excess of the maximum $2,500 you can deduct on your taxes for years to come.

I recommend paying as much over the minimum you can to get them paid off.
zimma13 is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Any way at all to lower/stop interest on a private loan? insane_debt Student Loans 2 07-06-2008 08:46 AM
private student loan default jevano Student Loans 6 06-01-2008 08:47 AM
Please Help* Private Student Loan Refi boloblack Student Loans 11 05-12-2008 04:05 PM
Getting a Private Student Loan? charlie88 Student Loans 7 02-04-2008 09:52 AM
5 Tips for Managing Student Loan Debt Gmegds Student Loans 2 06-07-2007 09:12 AM

SPONSORED LINKS
 
 
Powered by: vBulletin Version 3.0.1
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.