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the total payment can not be less than error

albator159

My student loan company let me choose a lower payment than what Quicken allow. So I enter my payment in Loan detail. The loan was set a Student Loan.

When I go into loan detail, and enter the amount. I get a message.
"the total payment can not be less than" (the amount I just entered)

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Comments

GeoffG

Loan amounts are not typically reduced mid-contract. Student loans are an exception that Quicken was not designed to handle. I would suggest entering the amount you are now paying and split the transaction into a new category named "Student loan reduction" or some such. You can track the amount this way and complete the loan payment.

So if you loan payment was $500 and is now $400, the entry would look similar to:

Loan payment: $400

Student loan reduction: $100

Total: $500

albator159

So I click payment details, edit payment schedule, payment options, payment options and choose: memorized payéé.
Then what will happen, I split it manually.