Birdwatch Note Rating
2024-01-18 05:20:47 UTC - HELPFUL
Rated by Participant: E719A3ECA2D6C19914693030C6B9541504877266F3990FA46AE22AFA89CBEACB
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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