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Posted in Student Loans
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Question By
Wicked822

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Should I pay off the biggest loan 1 first? Or the smallest loan 1 first?
I have multiple loans ranging different amounts with different APR's.

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Top Contributor
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You may be able to get the loans consolidated so that you make only one payment per month.  Otherwise, you are going to have to pay all bills as directed.  You don't want to let any loans go into default. Check on consolidation with your loan servicer. 

Top Contributor
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If you are able to pay more

than the minimum, or if you have  a lump sum you are able to pay on an account, It's best to pay the account with the highest interest rate first. But check with your lender. Many have "Fees" or clauses about paying off accounts early. So be aware that you may not be saving any money in the long run.  Call the lender and ask, It doesn't hurt. 

Good luck 

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