Page 50 - Charles Calhoun Book Rich As You Want To Be

3. A Student loan of $70,000 could be paid off

in 20 years at 5% interest for a mere $ 460

per month. Are you kidding me? Twenty
years?? But if the interest rate was 8%, the

payments would be $585.51 per month for

twenty years. Nobody wants to do that!!
Seems crazy but many (most?) people do

these unwise things. As the Bible says, “The

borrower is slave to the lender.”

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