Birdwatch Note Rating
2024-02-23 03:43:31 UTC - HELPFUL
Rated by Participant: 598B13D4E1D0AF22712094582AD148B35006364AE4EC705722F9A1428CD77F79
Participant Details
Original Note:
Looking back at 2001 student loan rates and using amortization tables, the $500 he is claims they have paid every month would have already paid off the loan. https://www.savingforcollege.com/article/historical-federal-student-interest-rates-and-fees https://www.calculator.net/amortization-calculator.html $70,000 loan balance over 23 year period at 6.5% interest would need a $489.35 monthly payment to pay off
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