In article , Mike Coslo
writes:

N2EY wrote:

In article , Mike Coslo
writes:

some snippage

If you look at the total dollars spent, you can still pay less money on
some of the higher interest lower cost loans than lower interest higher
priced loans. (although I'd never suggest doing that) It's just the
sheer amount of dollars.


Yep. That's why you have to calculate the options.


So the best bet is to pay all the loans off as
quickly as possible.


Not always.

Suppose you're in a situation where money is tight but you can expect big
increases some time in the future. (example: kids are small and one parent
is
home with them, but when the youngest reaches school age both parents will
be
working full time). In a case like that, having a lower monthly payment may
be
the best alternative even if it requires a longer loan term.

Well, a qualified yes. I've found people, including myself, sometimes
too optimistic when dealing with "future" things, like earnings and
expenditures.

Too true! Again, the ppeople who can do all this stuff realistically usually
don;t get themselves in a hole in the first place.

While what you sat is true, I'll take the tack of either
paying the thing off ASAP, or go without. Maybe even save for what I
want. (Modern Heresy Alert!)

Works for me!

73 de Jim, N2EY