You Just Graduated College and Borrowed $40,000 at 10%. What’s the Smart Play?

Jeffrey Goodman
6 min readJul 12, 2023

If you pay it off in 20 years, you will pay a total of $92,600 for that $40,000…is there a “smart play” to avoid paying $52,600 in interest?

Chart image created by author. Chart data analyzed by author. July 12, 2023.

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You borrowed $40,000 at 10% for college and will pay it back over the next 20 years. That’s the plan.

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Jeffrey Goodman

Navigating facts and numbers to help people. Strong opinions on climate change and healthcare. Objective, not neutral. MIT engineer, Wharton MBA.