FP_101_w5_loansummary

FP_101_w5_loansummary - bills for my loans and figure out...

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University of Phoenix Axia College Week 5 – Student Loan Summary Week 5- Assignment 1 Professor Pamela Langshaw Submitted in Partial Fulfillment of the Requirements for FP/101 Foundations of Personal Finance By [June 12, 2010]
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FP/101 2 Student Loan Summary Bankruptcy is the biggest consequence of borrowing too much debt and unable to pay it off. Which in turns ruins your credit score. Also, when you borrow too much and are only making minimum monthly payments to pay off your loans or credit bills, it will take you almost five times longer then paying a set amount above your minimum amount. ....The way I plan to start repaying my student loans will be implemented sooner then I think. My plan is to actually start to pay them back before they come out of deferment (student loan deferment ends six months after my schooling ends). This way I have a jump on my loans and can pay off a part of the loans with out interest being set upon it. . ..Though, once I start receiving
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Unformatted text preview: bills for my loans and figure out what my minimum monthly payment will be, I am going to work on my budget to see how much I can afford each month over the asked minimum. After I do this, I plan to keep that amount as a set amount and start to pay off the loan this way. This gives me room in case of emergency to pay a minimum amount if I have to, but also helps pay off my loan faster. Keeping my student loans under control will be crucial to my success as a student. I plan to go forward in to a four year degree after receiving my Associates Degree and perhaps go further to receive my Masters Degree. The one key element to keeping my student loans under control will be to constantly looking at my financial plan and monthly budgets. Also, taking whatever money I receive that they pay out to me, I just put right back towards the loan, this way that extra money will not have interest when I finish school. FP/101 3...
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FP_101_w5_loansummary - bills for my loans and figure out...

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