I left the garden

[parakleet]

My plan was to garden for at least my silver spade in August or October but I couldn't turn this offer down. Apped to refinance my private student loan (15k at 10.125%!) with a CU - conditionally approved for 5.55%!!!!

It's not final yet but I've submitted all of my papers so I hope to hear something soon. This will save me sooooooo much and give me room to pay down my existing CC debt. I had to go for it! We'll see if it was worth it. 

[myjourney]

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@parakleet wrote:

My plan was to garden for at least my silver spade in August or October but I couldn't turn this offer down. Apped to refinance my private student loan (15k at 10.125%!) with a CU - conditionally approved for 5.55%!!!!

It's not final yet but I've submitted all of my papers so I hope to hear something soon. This will save me sooooooo much and give me room to pay down my existing CC debt. I had to go for it! We'll see if it was worth it. 

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Of all people the one I thought I could trust escaped...Lol

Just kidding if it saves you money these are the reasons we want good credit so I say get it done and come on home BRAVO and BEST WISHES

[oscar_actuary]

yep, no doubt you gotta leave for a deal like that.  Saving about $725/yr in interest is worth delaying a silver spade.

I just had no idea student loans had those high 10%+ interest rates

good luck!

[parakleet]

Thanks myjourney! I know I couldn't believe that I jumped the fence myself! But this is exactly why I wanted to have good credit to work for me rather than the other way around. My goal is to pay down debt and cutting the interest in half on this monster is just unreal so I couldn't pass it up. If this goes through, trust me - my butt will live in the garden. 

[myjourney]

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@parakleet wrote:

Thanks myjourney! I know I couldn't believe that I jumped the fence myself! But this is exactly why I wanted to have good credit to work for me rather than the other way around. My goal is to pay down debt and cutting the interest in half on this monster is just unreal so I couldn't pass it up. If this goes through, trust me - my butt will live in the garden. 

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wise choice Ha ha ha 

[parakleet]

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@oscar_actuary wrote:

yep, no doubt you gotta leave for a deal like that.  Saving about $725/yr in interest is worth delaying a silver spade.

I just had no idea student loans had those high 10%+ interest rates

good luck!

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Thanks! it's actually way more than that due to compound interest. We're talking thousands.  It's been killing me to pay all that interest but hopefully this'll be a life boat. 

[oscar_actuary]

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@parakleet wrote:

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@oscar_actuary wrote:

yep, no doubt you gotta leave for a deal like that.  Saving about $725/yr in interest is worth delaying a silver spade.

I just had no idea student loans had those high 10%+ interest rates

good luck!

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Thanks! it's actually way more than that due to compound interest. We're talking thousands.  It's been killing me to pay all that interest but hopefully this'll be a life boat. 

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Actually it's less that $725 / yr.  Due to the fact the principle will be dropping as well - hopefully. 
If you payed it off in 60 equal payments, you save about $2,000 total with the lower interst.

[09Lexie]

Not even a goodbye, see ya later....just ran!

J/k. Anytime it saves money, I'm all for it!

[KIPPIE12]

That was definitely worth a short jaunt out of the garden.  Like Lexi said, anything to save money is a good thing here.  Your interest rate refi is awesome. Congrats!

[GatorGuy]

This is the exact reason why we work on our credit. Well done!