Alicia M. Johnson, an assistant professor at the Isenberg School of Management, conducted research published in the Journal of Marketing Research, revealing that consumers often make suboptimal choices when prepaying loans. Many borrowers prioritize older debts, believing they have invested significant effort in repaying them. However, this approach may not be financially beneficial. Johnson emphasizes that factors such as interest rates and loan terms should guide repayment decisions. Paying off newer loans first can lead to lower overall interest payments due to debt amortization schedules. Despite the potential for savings, many consumers neglect to analyze their repayment strategies. Johnson suggests that borrowers should focus on interest savings rather than the age of the loan and consider the remaining time on a loan instead of its duration. She also encourages the use of financial planning tools, such as apps and online banking platforms, to estimate interest savings under various repayment scenarios. Johnson's interest in personal finance stems from her experience as a loan officer, where she observed consumers frequently making financially disadvantageous decisions.