So here is how my morning started. I transferred $40,000 from my home equity line of credit (HELOC) into my checking. In other words, I used a HELOC to pay off our debt.
I simply logged on to my wife’s My Great Lakes account and went about submitting an extra payment. I will admit, I should let her have the gratification of paying off the student loans.
Allocate the funds. This is where things get tricky and I think it is absolutely ridiculous how this process works. I have to determine a “Percentage” to go towards individual loans.