decrease the loan

USAGE SUMMARY

The phrase "decrease the loan" is correct and usable in written English.
You can use it when discussing financial matters, particularly in the context of reducing the amount owed on a loan. Example: "To improve our financial situation, we need to find ways to decrease the loan we took out for the new equipment."

✓ Grammatically correct

Wiki

News & Media

Science

Human-verified examples from authoritative sources

Exact Expressions

1 human-written examples

After you have gained enough money, open up the money control again and decrease the loan as much as you can.

WikiHow

Human-verified similar examples from authoritative sources

Similar Expressions

58 human-written examples

Make use of 10% of your income to decrease the load of debt and loans.

WikiHow

For instance, JP Morgan's Contract Intelligence, or COIN, program, which runs on a machine learning system, helped the bank shorten the time it takes to review loan documents and decrease the number of loan-servicing mistakes.

Huffington Post

If one of Ms. McDonnell's aid students receives additional scholarships, she said, she first tries to use them to decrease the student's loan amounts, because "we are trying to keep kids out of debt and help them get as much grant aid as allowed".

The New York Times

However, with a bad credit history, it is not advisable, especially since you can easily decrease the rate of your car loan in a few months.

WikiHow

While a cross-collateralization would allow the entities to pay off their loans, it would also decrease the value of the healthy Raptors, since now they would be on the hook for more debts.

The New York Times

Decrease demand, increase supply, decrease the price.

Huffington Post

Personal loans are looking cheap too, with interest rates for larger loans seeing a marked decrease – the cheapest loan available in July 2008 for £10,000 over 60 months was 7.3 per cent, but the same loan costs from just 4.9 per cent today.

Independent

Early repayment is the bane of lenders like Money Store because it decreases the value of a loan that the lender, in turn, has borrowed against to raise money to make more loans.

The New York Times

Research conducted by an economics professor at the University of North Carolina found a negative correlation between student loan debt and marriage: $10,000 of student loan debt decreased the probability of marriage by 3 to 4percentt.

Huffington Post

Better education and a college degree is crucial but the increased costs of higher education and increased tightening of credit qualifications for federal parent's loans decreases the ability of many students to obtain a college education.

Huffington Post

Expert writing Tips

Best practice

When aiming to “decrease the loan”, prioritize strategies that lower the principal amount. Paying more than the minimum each month and making bi-weekly payments are excellent ways to achieve this.

Common error

Don't focus solely on decreasing the interest rate without addressing the principal. While a lower interest rate helps, it's the principal reduction that truly "decrease the loan" and saves money long term.

Linguistic Context

The phrase "decrease the loan" functions as a verb phrase where the verb 'decrease' acts upon the noun 'loan'. It is used to describe the act of reducing the total amount of a debt. As Ludwig AI shows, this phrase appears in contexts discussing financial strategies and loan management.

Expression frequency: Uncommon

Frequent in

News & Media

33%

Wiki

33%

Science

33%

Less common in

Formal & Business

0%

Encyclopedias

0%

Reference

0%

Ludwig's WRAP-UP

The phrase "decrease the loan" is a grammatically correct and usable expression in English, primarily functioning as a verb phrase to denote reducing a debt. As Ludwig AI indicates, this phrase is most commonly found in News & Media, Wiki, and Science contexts. While there are multiple ways to express the same idea, such as using phrases like "reduce the loan amount" or "lower the loan balance", it’s important to focus on both decreasing the interest rate and actively reducing the principal to effectively manage and "decrease the loan" over time. When writing, remember to prioritize principal reduction strategies for true loan reduction, and be aware of how amortization affects early repayment efforts.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

reduce the loan amount

Focuses explicitly on the quantity being reduced.

lower the loan balance

Emphasizes the outstanding sum owed.

pay down the loan

Highlights the action of making payments to reduce the debt.

diminish the loan

Uses a less common synonym for 'decrease', suggesting a gradual reduction.

alleviate the loan burden

Shifts focus to the impact of the loan rather than the direct reduction.

lessen the loan liability

Highlights the legal or financial obligation associated with the loan.

bring down the loan

Emphasizes a downward trend in the loan's size.

curtail the loan

Implies limiting the size or scope of the loan, often through early repayment.

decline the loan size

Focuses on the size/dimensions of the loan.

mitigate the loan

Suggests easing the negative effects or risks associated with the loan.

FAQs

How can I effectively use "decrease the loan" in a sentence?

Use "decrease the loan" to describe actions aimed at reducing the principal or overall amount owed, such as, "To improve our financial health, we need to actively decrease the loan amount."

What are some alternatives to saying "decrease the loan"?

You can use alternatives like "reduce the loan amount", "lower the loan balance", or "pay down the loan" depending on the context.

Is it more beneficial to "decrease the loan" amount or decrease the interest rate?

While both are beneficial, directly targeting the loan amount will provide a significant long-term savings. Decreasing the interest rate without decreasing the loan amount, could lead to minimal savings over time.

How does amortization affect my ability to "decrease the loan"?

Amortization schedules allocate more of your initial payments towards interest, meaning only a small portion goes towards the principal. To effectively "decrease the loan" early on, consider making extra payments specifically towards the principal.