Birdwatch Note Rating
2024-02-27 06:52:41 UTC - HELPFUL
Rated by Participant: CFA02E53FA93C2F349C2B2A2A3BDF3856BB6F53E7B1B6D859BF1459C40A71E67
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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