Money Talk: Deciding Which Loan to Pay Off

Question: I am going to pay off one of my daughter’s private student loans. One has a balance of $8,500 at 4 percent interest and the other is for $7,500 at 6 percent. Which one should I pay off? Answer: You have a lucky daughter, either way. In addition to balances and rates, the other variable you need to consider is whether the rates are fixed or adjustable. These days, many private student loans have fixed rates, but in the past...

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