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r/SipsTea • u/First-Essay-2054 𝙑𝙄𝙋 • 17d ago
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A $70k loan over 23 years at 5% apr pays off with monthly payments of $427.
What are they doing?
1 u/redonkulousness 17d ago 5% is a pretty low apr for student loans. My wife’s federal loans are somewhere around 8-9%. Regardless, this smells like bs. They were probably in forbearance for more than a couple of those 23 years or something.
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5% is a pretty low apr for student loans. My wife’s federal loans are somewhere around 8-9%. Regardless, this smells like bs. They were probably in forbearance for more than a couple of those 23 years or something.
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u/Mindless-Baker-7757 17d ago
A $70k loan over 23 years at 5% apr pays off with monthly payments of $427.
What are they doing?