NIIICE
I just checked my student loan account and realized that I managed to lock in my 3.375% loan rate. I was iffy on whether or not I had made the deadline because the internet was so darn slow (jammed because everyone was trying to lock in rates at the same time, I did it on the last day.) Yaay! Here's what's crazy:
The same loan, (I think over a longer time horizon) only costs me $110/mo. vs. the $400 that I was paying before! At a 3.375% rate, that's just too awesome! I think at a certain point it was as low as 2.27% but still... at least I'm not at like 5% or so that it's at now.
I also put money into an Emigrant Direct savings account at 4.0% APY! That means it's currently to my advantage to not pay back my student loan faster! The risk obviously is that the savings account is a floating rate and the student loan is a fixed rate, but at 4%, rates are more likely to go up than down, so I'm kool with dat. (For all you finance dorks out there, I realize I'm not duration neutral, but yo, I'm taking a view on interest rates aiight? And no, this isn't credit risk to Emigrant because dat shiznat be FDIC insured!)
I added some ghetto flava to the end of the previous sentence jus cuz I keep it fresh like dat. Werd.
The same loan, (I think over a longer time horizon) only costs me $110/mo. vs. the $400 that I was paying before! At a 3.375% rate, that's just too awesome! I think at a certain point it was as low as 2.27% but still... at least I'm not at like 5% or so that it's at now.
I also put money into an Emigrant Direct savings account at 4.0% APY! That means it's currently to my advantage to not pay back my student loan faster! The risk obviously is that the savings account is a floating rate and the student loan is a fixed rate, but at 4%, rates are more likely to go up than down, so I'm kool with dat. (For all you finance dorks out there, I realize I'm not duration neutral, but yo, I'm taking a view on interest rates aiight? And no, this isn't credit risk to Emigrant because dat shiznat be FDIC insured!)
I added some ghetto flava to the end of the previous sentence jus cuz I keep it fresh like dat. Werd.