I'm not an expert at this, but based on the info you provided I estimated a monthly payment of $186.21 assuming you are single with no kids.
58000
-18000 (401k)
-17655 (150% of poverty level)
=22345
*.10
=2234.5
/12
=186.21
I am curious what plan that monthly payment is calculated for.... the 25 year repayment? My loans literally just automatically kicked me off with the payment I mentioned and it says 120 payments.
I am single with no kids.
Great feedback everybody!
I tried refinancing through sofi and meet earnest and both places didn't have very good rates for me. Current interest rates is 6.8%
I guess a little more backdrop would be helpful.
I bought my first house in September. My total monthly bills (mortgage, elect, gas, taxes) is about $1050. Current take-home after maxing 401k and taxes is about $1900.
I guess with my extra money do you guys believe it is best suited put towards student loans?
I bought a fixer-upper (got a steal on a home with plenty of sweat equity opportunity) so currently the extra money was being put towards repairs on the home.
I am attempting to take my frugality up a notch. Plans and preparation for a garden are already in the works. And after this first winter I have been reading up on insulating/ventilation for the house. I don't have car loans or anything and my car gets 45mpg.