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Cheaper to Not Payoff Debt.......Yet

March 2nd, 2008 at 12:09 pm

I finally received my paycheck for teaching and was going to pay off one of the loans. The problem was that if I mailed it, the payment would not be received in time to avoid further finance charges. No problem, I thought as I headed to the website. An online payment costs $15 though. If I wait one week, I will have two weeks for the payment to post and will only get another $2.50 worth of interest. By waiting a week I can keep $12.50. I guess they are trying to make up for the interest they are going to lose since we are paying off the loan a year early. I am getting better at this patience stuff though so I will wait!

2 Responses to “Cheaper to Not Payoff Debt.......Yet”

  1. HouseHopeful Says:

    I hate it when companies charge to pay online. $15.00 is ridiculous! But it sounds like you have a plan to get the most out of your last payment. Congrats on paying off the loan!

  2. Carolina Bound Says:

    $15 for an online payment? I never pay any charge for online payments. That seems weird.

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