Birdwatch Note Rating
2024-08-05 07:07:59 UTC - HELPFUL
Rated by Participant: F8B3437C05230F2A92F393522497465498F4167B23FD37E65057CF33F28445A0
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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