02-19-2009, 09:25 PM
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Student Loan Question
Have a student loan from Wells Fargo that I've been paying on for about 2 years now. The balance left on the loan is about $5,000, scheduled payment is $97 per month, interest rate is approximately 12%. I've been paying $200 monthly ever since payments started.
I also have a savings account that is earning approximately 2.5% interest. Would I be smart to take $5,000 out of my savings to pay off the student loan, and then put $200 each month back into the savings account? Appreciate the help! 
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