My to do list has gotten longer. And now I don't want to do anything left on it. Although, in my defense, I've done a lot today. One of my items was an icky two-hour errand and another was dealing with three more people at the awful insurance company. So, go me!
Hec, I'm getting my hair cut tomorrow. Just thought I should let you know. Also, I'm going to pick up some copper blond [link] to dye my hair. I'm all excited. I haven't had reddish hair for a while. It'll be fun!
Now that I'm all caught up on Bitches, someone make me go get back to work. Actually, I think I may try to call my friend that I got a Christmas letter from today. She's got five kids. They've always kinda been my babies. I babysat all five of them from infancy, and now one of them is 5'10"! How did that go and happen???
Oh, PC! Emily wanted me to ask (well, and I want to know too), would you be interested in coming down to Troy on Saturday the 22nd? We'll be there, but pretty much just for the day.
Oh! Ooh. Huh. I don't see why not, since I have no plans that I know of. I actually have a friend who lives in Troy. Maybe I can work something out. I have no transportation of my own.
Does that mean that it costs 3% of that every month until I pay it back?
You pay the (average daily balance of what you owe) x (the interest rate) x (days between payments).
I can do money math. Now if I could only spin straw into gold, I'd be able to afford to buy a house.
But the 3% is annual, not monthly, PC. Or at least I hope to dog it is or you're getting seriously screwed.
Well, and as you pay, some of your payment is applied to the principle, so the amount that accrues interest is decreasing.
You pay the (average daily balance of what you owe)
I don't understand this part. Unless it's the loan amount divided by the days I'm in school, and this number remains fixed.
(days between payments).
What about while I'm in school, not making payments?
But the 3% is annual, not monthly, PC. Or at least I hope to dog it is or you're getting seriously screwed.
I thought it was per year, but I think the financial aid counselor said per month. Maybe I misunderstood her because yeah. Per year sounds more reasonable.
Unless it's the loan amount divided by the days I'm in school, and this number remains fixed.
See what Cindy said:
some of your payment is applied to the principle, so the amount that accrues interest is decreasing.
What about while I'm in school, not making payments?
Depends on the terms of your loan, and when the interest begins to accrue. Some of them start when the money was disbursed, some have a grace period.
It is an annual interest rate.
Glad other people are here to explain the loan thing. I understand, but I'm not sure I could explain.
PC, I'll drop you an e-mail or something, and we can try to make plans.
