You’re Still Trying To Use Math… You Need To Get Pissed Off!

The Ramsey Show Highlights

Ramsey Network

Investing, Self-improvement, Education, Business

4.5 • 840 Ratings

🗓️ 27 December 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel, Kristina Ellis, & Jade Warshaw. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	this is the ramsie call of the day part of the ramsay network joining me today is ramsie
0:13.1	personality rachel cruz ann is with us anne is in nashville hi anne how are you hi thanks for
0:20.5	taking my call.
0:21.4	Sure.
0:21.8	What's up?
0:23.5	So, due loans are starting back up producing the interest rates on those.
0:28.8	My husband and I have about $30,000, and our only other debt is the house.
0:33.9	We have four different accounts, one unubsidized and three subsidized.
0:40.8	And I know that due loans are simple interest, so I guess the interest accrued can't continue to accrue interest.
0:49.1	So should we be paying a income-driven repayment so that that gets our payment lower so we can
0:54.8	attack the principal and then circle back to...
0:57.2	It doesn't change it at all.
0:58.9	No?
0:59.4	Nope, doesn't change it all.
1:00.5	All that changes is the amount you pay in.
1:03.4	Oh, okay.
1:04.2	Because the interest is charged on your outstanding balance, regardless of how the outstanding
1:07.7	balance was achieved.
1:09.5	Even if we pay the principal down. If you pay the principal. Even if we pay the principal down.
1:12.8	If you pay the principal down, if you pay down anything on the account,
1:16.8	it all becomes principal if you don't pay it.
1:20.1	So when you're doing income-based and you're not even covering the interest,
	...

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