pay student loan or save?
Date: Fri, 04/01/2011 - 00:22
pay student loan or save?
My annual income is nearly $50k. I am a bachelor with $98,000 student loan debt. I pay nearly $850 on my student loans. I deposit around $1500 on my checking account every month. I want to lead an organized financial life. This is why I am asking, should I increase my payments on student loan or start saving more money?
Hi! Welcome to the forums! Yes saving is important. But repayi
Hi!
Welcome to the forums!
Yes saving is important. But repaying your student loan debt is more important. So, I would advise you make more payments on your student loans. The sooner you become debt free, the better.
Your student loan interest rate is way higher than the rate of i
Your student loan interest rate is way higher than the rate of interest any savings account is going to pay you, You can save yourself more money in the long run by paying your loan off quicker.
