Comments on: GFC 085: 7 Student Loan Dangers to Watch Out For

By: Adriana @MoneyJourney

Tue, 28 Feb 2017 05:43:30 +0000

I’m so glad I didn’t get into debt to pay for college. Granted, it didn’t cost a huge fortune, but I think I made the right choice by choosing to work and study, so I could avoid student debt altogether.

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By: Mike

Sun, 26 Feb 2017 14:48:30 +0000

Yes I too believe that the best way to deal with this is to be debt free ASAP!

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By: Syed

Fri, 24 Feb 2017 21:41:03 +0000

Excellent points that are not talked about enough. I ran into this personally a few times as I received a bonus at work and wanted to apply it to my highest rate loan. When I submitted the payment, they spread it among all the loans and most of it went to interest! Very disheartening.

I found a way to avoid this is to make sure you specify a specific loan balance, and schedule the payment for the same day you will have your automatic withdrawal. This will cause it to be applied to the principle only.

These companies can be shady! Just another reason I want to be debt free ASAP.

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