For myself, I started by paying off my smallest loan, which also had the highest interest - that taught me that I *can* do it.
After that, I went to the next one that I actually had to pay back *now,* of course.
As for the student loans, since I already know I can pay off my debt (including an individual debt of $5000), I don't think I"ll do the smallest one first. Plus, I think the NSLC ones get amalgamated into one, as do the RBC. That leaves me two debts to pay off.
Although the interest rate is close, I'd much rather pay off the NSLC ones first. This is for two reasons. First and foremost, the NSLC is evil incarnate. Absolutely, pure, unadultered evil. They won't even tell me how to go about paying them back until 6 months after I'm done school (I'm talking to other "customers" to figure it out myself 6 months *before* I'm done school!). Secondly, they are charging me more, so I might as well get that out of the way now, not later. So far, RBC's been pretty decent to me about their student loans, so I might as well keep them around for longer, since I have the choice. |
