IT'S THE PRINCIPAL OF THE THING... Here is a good idea; and, it is essentially going another
Question:
IT'S THE PRINCIPAL OF THE THING...
Here is a good idea; and, it is essentially going another step beyond the great idea of only borrowing what you need for tuition, etc., as you go along in school. Now, when you have a "subsidized" student loan, interest is not accruing against your borrowed amounts while you are still attending school, and for the 6 months immediately after you finish. (Actually, that interest IS accruing; but, thegovernmentis paying it. That is why it is referred to as a "subsidized" loan...) However, if you are able to make any payments on your loans while still in school, though not required, those payments directly reduce the amount of principal that will be due when it becomes time for YOU to start paying the loans down. Then, the total amounts on which they will begin charging you interest will be lowered, saving you serious bucks over time, until you get everything paid off.
Has anyone begun using this trick...?
Expert Answer:
Yes many students have begun using this strategy to reduce the amount of interest they will ultimate... View the full answer
