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Most effective repayment
August 23, 2018
5:15 pm
Jake Barrutia

I currently owe $22,000 in loans, with interest not beginning to accrue until December. I begin work in two weeks, with an income of $1,000 a week. I plan on putting almost all of it towards knocking out my loans as quickly as possible. Do you think I should simply make payments through my checking account, or should I use a payment service like Plastiq and make credit card payments? Thank you!

August 23, 2018
7:39 pm
Forum Posts: 348
Member Since:
May 3, 2014
sp_UserOfflineSmall Offline

Aggressively paying off the loans is a great idea.

Using Plastiq could work in certain limited circumstances, but it can be risky. The transaction fees with Plistiq normally cost more than any rewards you get… and interest rates on credit cards are normally much higher than student loans.

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