Those of us with degrees in finance cringe while reading this.
Everyone else cringes while reading 80% of the other junk you post.
Finance degree huh? Well why were you cringing about that statement then?
Loan summary - $10,000 @ 5.5%
Term of loan - 60mo
Total ammt. paid over loan - $11,460.70
Total interest - $1,460.70
Total monthly payment - 191.01
So, I wasn't too far off....5.5% interest is a pretty median interest rate for someone with slightly better than average credit! lower interest rates can be had, sure, I have lower rates on my loans, but we have a very good income, low net to debt and stellar credit.
I cringe at the thought of you being in control of someone's finances, with that nifty degree y'all have...