9 Student Loans; Pay Which First?

[los panda]

please view the attached table, i am trying to help my good friend determine the best order to pay off these student loans.

i never went to college myself and i am not sure which order makes the most sense, if additional information is required, please let me know and i will ask my friend.

any help or advice is appreciated, thank you so much,

[cashisking500]

I don't see a chart, but without all the information I will say you typically have one of two options. Either pay based on balance - lowest to highest or pay based on interest - lowest to highest.

There is more of an emotional victory when you pay based on balance, meaning that it's rewarding to pay something off and typically the quickest way to do that is to tackle the lowest balance first.

I've personally used the balance method myself and it's worked to keep me motivated to stay after aggressively attacking our debts. You need to decide what fits you (or your friend) best.

[los panda]

i am having trouble posting the attachment, i am not able to use an image hosting url. can i please pm the link or file?

[los panda]

attempt #3 at a png attachment: size is 18kb, width is 515, height is 235...

[doingitallwrong]

Either pay based on balance - lowest to highest or pay based on interest - lowest to highest.

I'm sure this is a typo and should read either balance - lowest to highest - or interest - highest to lowest.

You can plug in the numbers at http://whatsthecost.com/ and it will compare the two approaches and detail for your the cost/savings of doing it one way vs. the other.

[cashisking500]

Good catch, doingitallwrong! I obviously had a big typo there! Ha!