$19,849.75
That's roughly were my student loan stands, after interest is taken out. It was made more complicated by being held in two parts by two government departments. The IRD holds about 12k and that was straight forward, but the Studylink part (which eventually makes its way to the IRD) was made complicated by the phone operator who tried to explain this shit at greater length than was needed. I mean, he could of left it with "that includes interest, which will be written off by the IRD" but he gave me the interest figure, as well as his side of the loan and there is roughly where I stand.
At $50 a week repayments I can kiss that goodbye in under 8 years :\ Of course with the student loan amendment I can get a 10% bonus by paying a contribution greater than $500, which would solve my "what do I do with the spare wads of $500 I have under my mattress" problem. I think I'll stick to minimum repayments for the meantime.
After all the loan is interest free, so that means inflation erodes it, while if I pay it off I miss that opportunity and gain 10%, but lose out on say perhaps, saving that money and getting interest. Granted 10% would still be higher than inflation and interest combined, but it' nice to have a buffer of money stored away.
That's roughly were my student loan stands, after interest is taken out. It was made more complicated by being held in two parts by two government departments. The IRD holds about 12k and that was straight forward, but the Studylink part (which eventually makes its way to the IRD) was made complicated by the phone operator who tried to explain this shit at greater length than was needed. I mean, he could of left it with "that includes interest, which will be written off by the IRD" but he gave me the interest figure, as well as his side of the loan and there is roughly where I stand.
At $50 a week repayments I can kiss that goodbye in under 8 years :\ Of course with the student loan amendment I can get a 10% bonus by paying a contribution greater than $500, which would solve my "what do I do with the spare wads of $500 I have under my mattress" problem. I think I'll stick to minimum repayments for the meantime.
After all the loan is interest free, so that means inflation erodes it, while if I pay it off I miss that opportunity and gain 10%, but lose out on say perhaps, saving that money and getting interest. Granted 10% would still be higher than inflation and interest combined, but it' nice to have a buffer of money stored away.
