New Contributor
SMikulski49
Posts: 52
Registered: ‎03-09-2009
Pay off student loans or keep them as long as I can?

Hey everyone, quick question about student loans. Below are all of my student loans: On the first one I am co-signer, the next three are my loans with balance and the rest of them are paid off. 

 

They are currenly on auto pay and my monthly payment is 137.37, with 0.14% interest on each loan, If I were to take them of off the auto pay interset on each loan would go up by 0.25%. I also found out that I over paid my account in the past by so much I would not have to pay my next payment until 2014. I am wondering if I should keep these loans on my account as long as I can, so they would help me have a very long credit history, or should I just keep paying off the monthly payment and pay them off in the next few years. 

 

What do you guys recommand? the interest rates are so low I would not accumulate much interest over the next 10 years even, or I could make really small payment to pay for them as long as I can just so they would stay on my account for as long as I can keep them to build a great long history. All recommandation are welcome, and thanks for the advice in advance.

 

Polslv/Uas (Personal Student Loan)

Approved for $75,000

Balance $33,550 (Co-Maker/ Co-signer)

Opened January 2010

 

Aes/Pnc

Loan Amount $5,500

Balance $2,494

Opened 8/2005

Montly payment - 64.99

Interest rate - 0.14%

 

Aes/Keysto

Loan Amount $3,500

Balance $1,587

Opened 8/2004

Montly payment - 41.36

Interest rate - 0.14%

 

Aes/Keysto

Loan Amount $2,625

Balance $1,190

Opened 9/2003

Montly payment - 31.02

Interest rate - 0.14%

 

Natl Coleg (Personal Student Loan)

Loan Amount $15,625

Balance $0

Opened 9/2006

Paid Off/Closed October 2010

 

Aes/Pnc

Loan Amount $8,633

Balance $0

Opened 9/2007

Paid Off/Closed October 2010

 

Aesconduit

Loan Amount $5,500

Balance $0

Opened 8/2006

Paid Off/Closed 12/2009

 

Aes/Keysto

Loan Amount $5,500

Balance $0

Opened 8/2007

Paid Off/Closed 3/2009

 

Natl Coleg

Loan Amount $10,526

Balance $0

Opened 8/2005

Paid Off/Closed 8/2008


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