Why not just treat it as a revolving loan, posting interest manually? It
can't be much harder.

"Carlos N" <spaceman13DELETE[at]REMOVEbestmail.us> wrote in message
news:%23K$KPAU8GHA.2316[at]TK2MSFTNGP04.phx.gbl...
- quote -

I've never been terribly happy with student loans in Money myself. My
problem is that I have two loans with the same provider, who treats them as
if they were one loan for all practical purposes. However, one loan
changes interest monthly, one quarterly. This gives all sorts of headaches
to MS$. I tried setting up two loans in MS$ but then I would require two
payments to be setup, whereas my loan provider withdraws from by bank
account a single payment for both loans. I've finally settled with having
a fake loan that has a "weighted" interest rate for the loans, and that I
know will be off by a few points. This forces me to do an "update balance"
on a regular basis.
CGN


Robb wrote:
- quote -

no, the terms of the loan are such that an y additional payment does not
eliminate a future payment, it just lowers the amount of interest compounded
to future payments.

I hope that Microsoft realizes this limitation in Money and adds it to the
next version. I'm sure I'm not the only graduate out there who wishes that
Money would accurately track various payment schedules for student loans.

"Tashfeen Bhimdi" wrote:

- quote -

no, the terms of the loan are such that an y additional payment does not
eliminate a future payment, it just lowers the amount of interest compounded
to future payments.

I hope that Microsoft realizes this limitation in Money and adds it to the
next version. I'm sure I'm not the only graduate out there who wishes that
Money would accurately track various payment schedules for student loans.

"Tashfeen Bhimdi" wrote:

- quote -

- quote -


And this may be a bit strange, but you could always pay $147.17 extra
the first month, thus eliminating 1 "loan account".

Now that I think about it, would that even work because of interest
being charged?

--
Tashfeen Bhimdi

Not as a single Loan Account. At least not easily. You might be able to
change the terms on the fly, but you'd have to test it to see if you could
do it the required way. It would still make things like cash flow
forecasting problematic.

I suppose you could use three loan accounts with different origination and
due dates. But dealing with the balloon balance on the first two would be
problematic.

You could also just track it as a liability account and manually enter the
interest expense accruals.

When I look at your case, I think it's two loans with the final payment on
the second loan being less than the previous ones. That's a lot easier to
handle than three fundamentally separate cases.

"Robb" <Robb[at]discussions.microsoft.com> wrote in message
news:EE606F13-A0A6-4A7B-9F51-E4D8F65CE148[at]microsoft.com...
- quote -

I want to add my student loan to Money, but I have a payment amount that
changes over time. How can I get Money to track the loan so I pay X amount
for Y payments for three different values of X and Y?

ie:

10/15/2006 (loan begins)
$50.00 for 24 payments

10/15/2008
$100 for 275 payments

09/15/2031
$147.17 for 1 payment