@oscar_actuary wrote:
@parakleet wrote:
@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!
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.
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.
Ah, you're right. I was calculating the interest by including the original loan at 20yrs and new one at 15. My plan is to do it in 4. 
Thanks guys! it's not a done deal yet so I'm absolutely sweating! I should hear about final approval within 3-5 business days...AAAAHHHH!!!
Don't worry y'all - as this is the credit card forum, I will be posting about DH's foray for the BCP in a week or so! 
Grats! Like lexie said, what matters most is that you are saving money!
