Originally Posted by
Phuz
Hey guys, I'm a regional pilot and I'm wondering if its smarter to pay off student loan debt or make minimum payments while saving for something like a down payment on a home.
I'll make ~$27,000 this year. (I'm looking for part-time work too)
I have ~$50,000 in student loan debt. Here's a breakdown:
$5000 @ 4.5%
$7000 @ 9.21%
$16000 @ 8.65%
$22000 @ 7.2%
No kids - no savings.
Any advice? Thanks.
Refinance your debt all into one loan. I pay 2.9%. Have roughly 4k. I make more with cash just sitting in savings so why bother with paying it off? I also invest. If you want to know the company I go through send me a pm. If you make 24 consecutive payments with automatic deduction from your check it drops to 1.9%. I don't mess around when it comes to things like that so I went through easily over a hundred places before I found this one.
Duck