Can someone please gut check my 10-Year Graduated Repayment Plan?
Hello all,
I have $26k in mostly unsubsidized loans on SAVE. Here's the breakdown:
| Name | Principle | Unpaid Interest | Total | APR |
|---|---|---|---|---|
| Loan 1 (Sub) | $2,460.00 | $80.00 | $2,540.00 | 4.45% |
| Loan 2 (Unsub) | $4,039.00 | $501.00 | $4,540.00 | 4.45% |
| Loan 3 (Unsub) | $7,500.00 | $40.00 | $7,540.00 | 5.05% |
| Loan 4 (Unsub) | $7,500.00 | $340.00 | $7,840.00 | 4.53% |
| Loan 5 (Unsub) | $3,750.00 | $70.00 | $3,820.00 | 2.75% |
My priority is paying as quickly as possible. A standard 10-year has me at $294/mo.
My plan for a while was to enter standard Graduated Repayment and pay extra monthly on the highest APR, but when I checked the loan calculator, it's saying i would need to consolidate and that the term would be 20 years.
I have found conflicting info online about this but I really thought there was a 10 year graduated that I could get onto. I'm not able to simulate it on the official website.
I know the consolidation deadline is almost here so I'm trying to make a decision soon. Many of the other posts in this sub discussing consolidation are in the 100k+ range so I didn't know if the math is different for me due to my lower balance and APRs.
Thanks in advance!