which loan to reduce -- grad plus or stafford?

[dentwannabe]

i know it sounds easy, i just wanted to make sure i wasn't missing anything. the guy at my bursar's office told me he wasn't sure.. he said i'd have to decide for myself. i thought this was very clear. shouldn't i reduce the grad plus loan since the stafford loan has a lower rate? I mean, its common sense right? or am i missing something?

thanks sdn.

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[Cold Front]

Grad Plus (b/c they have higher interest rates than stafford).

 

[dentwannabe]

Grad Plus (b/c they have higher interest rates than stafford).

thanks. just wanted to make sure i wasn't missing anything. lol shoot, $80,000 is a lot of money -- i have to double check!

 

[jackbauer!]

yeah, definitely reduce the grad +. 6.8% vs. 8.5%..... that's a toughie..

jb!

 

[dentalman]

i know it sounds easy, i just wanted to make sure i wasn't missing anything. the guy at my bursar's office told me he wasn't sure.. he said i'd have to decide for myself. i thought this was very clear. shouldn't i reduce the grad plus loan since the stafford loan has a lower rate? I mean, its common sense right? or am i missing something?

thanks sdn.

That is so easy, so that is why you are uncertain. Pay off/reduce the higher interest rate first. So, you are exactly right. Either the guy at the office A) has no idea what he is doing, or B) Has to follow some beauracratic or goverment guidelines about not giving you advice. Either way, it doesn't matter.