u/WildFlower_67

Hello, I'm looking for some advice on getting my personal loan paid off early. The loan is currently at $9,765.00. The interest is at 8.49% and I pay approximately $320.00 per month. I get charged about $2.27 per day and I want this loan ​gone as soon as possible. It's a 36 month loan term and the original amount was $10k with a $1,345 finance charge. There's no prepayment penalty but I don't get the finance charge back or a portion of it back if paid off early.

I started making about $63k a year and this is my only debt. I just got the loan in July of this year. I messed up this year thinking I could win big gambling so my savings took a BIG hit and I had to fund a large purchase and put it on my credit card . Thats why I needed a loan to help me breathe for a bit. I know, I was so stupid and I'm not gambling again. I wish I would have just paid the card off over time and took the interest hit. I wish I never gambled.

Anyway, I can't change the past but I'm wondering if I should adjust my savings so that I put the $320 I usually pay on the loan to savings and the amount I put into savings (anywhere from $500-$1000) on the loan? That way, I'll be saving but mainly getting this debt over and done with. I pay my credit card in full every month.​ I only have $6k in savings now. Is this a good idea? I want to be debt free so that everything I earn is mine to keep. Any suggestions and feedback would be greatly appreciated! Thank you.

Hello, please help me understand. I reached my 120th payment in June (my payments are due on the 20th of the month). I was on an administrative forbearance due to my IBR recertification being processed. After my IBR was completed, I submitted an updated ecf, didn't check the box that I was at 120 and wanted forbearance. I received my green ribbons on June 29. Because I had a payment coming up on July 20, I called my servicer EdFinancial and requested general forbearance to start on July 7. They said that I could only get a temporary hardship forbearance and I agreed. I just got a notification from them and it says my forbearance is from JUNE 21 to October 20? Will the month of June not count for my forgiveness? I wanted it to be done this month or next? If I call EdFinancial and ask them to take it off, will I create a big mess? I'm freaking out! I didn't want to keep paying and wait for a refund but now I think I should have. Will my green payment counts go back to 119? Please help me! Thank you!!