Need help: Student Loan Payment Strategy....rethinking Snowball

[Easye418]

I have dry powder sitting in the chamber ready to fire away....

I was going to eliminate "Loan:Wife 6", however, I was just wondering if I should just paid towards "Loan: Wife 2" instead.  My initial thought was that I could start peeling back some cash flow by eliminating the smaller amounts yet higher interest loans.

Thoughts?

Loan	Amount	Rate	Payment
Me 3	$8,063	5.16%	$113.12
Wife 2	$7,282	6.80%	$91.25
Wife 8	$7,004	4.66%	$76.20
Wife 1	$6,650	6.80%	$89.83
Wife 7	$5,364	4.66%	$58.35
Wife 9	$3,959	4.29%	$41.92
Wife 4	$3,520	6.80%	$44.11
Me 1	$3,495	4.25%	$50.93
Wife 6	$3,219	6.80%	$40.31
Wife 5	$3,157	3.40%	$31.25
Wife 3	$2,749	4.50%	$29.55
Me 2	$1,924	3.15%	$27.01
Total	$56,386

[boarder42]

reallly doesnt matter same math gain either way but for an emotional gain having one less loan may feel like a win and you can put that monthly money towards the other 6.8% loans.

[FIPurpose]

Put it towards the smaller one. Having more cashflow available for other loans and life in general is always the better path.

[Easye418]

reallly doesnt matter same math gain either way but for an emotional gain having one less loan may feel like a win and you can put that monthly money towards the other 6.8% loans.

Put it towards the smaller one. Having more cashflow available for other loans and life in general is always the better path.

Thanks, just wanted a sanity check before I fire away.  $3,200 off the books today.

[NoStacheOhio]

Are these all separate payments, or do you just cut one or two checks to pay everything as part of your regular monthly payments?

[Easye418]

Are these all separate payments, or do you just cut one or two checks to pay everything as part of your regular monthly payments?

Cut one check.

[spicykissa]

Having FINALLY paid my student loans off this month, I would absolutely just kill Wife 6. Much more satisfying & in your case mathematically equivalent.

My highest interest loan was more than the total balance of the other 8, so I had to spend a year just killing it slowly while paying minimums on the others. It drove me bonkers!