Birdwatch Note Rating
2024-01-17 23:10:48 UTC - HELPFUL
Rated by Participant: 979EEB0833B7DD268F71EC45C553AE5B8F9D20162E49E531A233EE605C94C0D9
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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