Quote:
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.
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.
For the love people.......
First off, keep in mind these people are not Certified Financial advisors.....
Yes interest is an issue like vagabond mentioned, but if you do the math and look at your loan notes...
which account will you actually pay more interest ?
the $7000 at 9.21% interest
or
the $22000 at 7.2%
do you see my point, people too often look at interest when they should also consider the other half of the formula....VOLUME.