Personal Finance

3798 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

[email protected]

should I pay off my student loans in full before intrest kicks in? (lemm.ee)

submitted 1 year ago by [email protected] to c/[email protected]

13 comments fedilink hide all child comments

General financials:

I can afford to pay them off in full and have plenty left over for general life needs

The interest rates on them should be 4.53% according to their chart of when it was awarded.

If I do hold onto the money and pay off monthly I can put everything into a CD but I'll still be losing .03% if I lock in the student loan money maybe I'll beat but .07-.43% so not a ton of upside unless there's sudden political will to actually follow through on student loan forgiveness.

Is there anything else I'm missing when considering this? I am leaning towards just pay off as I've been planning for this, but I want to make sure there isn't something else to do.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 3 points 1 year ago

The government is never going to take responsibility for pushing predatory loans onto young kids. The last hope was the Biden forgiveness plan.

Pay it off.