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Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311082  
Subject: Re: Keeping CC debt! Date: 4/15/2001 11:07 PM
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<<Had I known then what I know now, I would have paid off interest as it accrued and NEVER allowed it to be added back to principal. This may be a consideration for you as you are paying on other debt - if there is any way to keep the interest at bay on your student loans it may benefit your overall profile best. Good luck!

Can you be a bit more specific about what you know now that you didn't know then? I'm presuming that you underestimated the impact that accumulating interest would have on the balance that would need to be repaid.

Also, you say you would have paid off the interest charges as they accrued. This implies that you had choices that you could have made to avoid accumulating these additional charges. I'm presuming that you are saying that you might have either worked more to bring in additional income or lived more frugally to economize and avoid additional debt.

Can you describe more clearly the choices that would have been worthwhile to reduce the student debt and interest charges that you accumulated?

I see a pattern of people underestimating the impact of student loan debt on their lives. And I see people regretting some of the decisions they made and seeing better choices that they might have made. This might help others avoid problems and make better choices.

Thanks for any comments.

Seattle Pioneer
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