It takes a lot of strategy and foresight to make that all work for you.
And luck! We were lucky with our collar - the timing worked out. Many aren't.
I've never understood why places don't automatically apply over payments to the principle instead of the interest.
Ours does. The overpayment comes straight off the principle. Pay 100 more, the principle reduces 100.
Yes, and luck! :) That's cool that yours works that way. It's not always the case. I had friend who had a loan and she always paid extra. Without fail they would always apply it to the interest and she would have to call in and make the reapply it. As soon as she could transfer that loan she did.