The infographic suggests making small payments on your student loans even before they’re due, yet that won’t automatically get you a credit card. What would be the benefit of making these early loan payments?

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06-01-2022
Business

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The infographic suggests making small payments on your student loans even before they’re due, yet that won’t automatically get you a credit card. What would be the benefit of making these early loan payments?

Sagot :

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michell96 michell96 · Answer 1 · 2022-01-13T07:41:19-05:00

The benefit that a student can obtain by paying off his student loan before the due date is that his debt is diminishing.

What is a student loan?

A student loan is an aid offered by some public and private entities to those students who are going to start their university studies to lend them the money that their degree is worth.

These entities then establish fees that the student must pay from time to time. However, several of these entities charge interest and other percentages for lending this money to students.

What is the benefit of making small advance payments?

The benefit of paying in advance is that the student will pay off his loan more quickly, which will free him/her from paying higher interest in the future.

Note: This question is incomplete because the infographic is missing. However I can answer it based on my prior knowledge.

Learn more about infographics in: https://brainly.com/question/14267721

Sagot :

What is a student loan?

What is the benefit of making small advance payments?

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