Mohela school loans- is it okay to pay off all at once? Hi all. I have massive amounts of school loans- almost 200,000. I’ve been paying off for almost ten years and still owe more than I started with 2/2 interest. My job situation has recently changed. Is there any reason I shouldn’t pay it off all at once if I’m able? I’m ready to be done with these loans. submitted by /u/MrsCornmuffin

I have 55k in student loans left should I pay half of it off I started out with 75k in student loans and now I have 55k left. My question is should I use my 23k in savings and pay a large majority of the loan off or keep paying my super high monthly payments ($1,210 a month for 5 years (4 more years in January)) The loan is 6.35% interest. I’m really tired of a lot of my check going to this loan but I als…

Am I missing something with Private Student Loans? I will be starting grad school for a Nurse Anesthetist degree. I keep reading many articles, blogs, & forums that private loans are the devil and you should never take them out. Only federal loans. However, the federal student loan rate for a graduate student is 8.08% and grad plus is 9.08% with a 4.228% disbursement fee. That’s insanely high. I…

To pay off non-interest-bearing student loans in full or not? I have about $50,000 in student loans remaining, and I’m currently in a loan forgiveness program because I work at a non-profit. The loan would be considered paid in full after 120 payments. In the end, it would be about 65% of the total amount, and it’s not currently accruing interest. The caveat is that I must recertify that I work at a non-pr…

Taking out loans for college – is my plan bad? Ive been attending a community college for electrical engineering. Ive been paying out of pocket with personal savings and received some help from my parents. I’ll be transferring to a 4 year univeristy soon and estimate I’ll need between 30 – 45k for tuition and books alone to wrap up my last 3 years. I have about 24k in the bank, and make abo…

Pay off student loans or keep in S&P500? Hey there, PF. I’m looking at combining finances with my GF, and we’re looking at her income-based student loan repayment plan. We’re in our late thirties. She does her 401k contributions appropriately (gets her match, plus contributes more), has her rollover IRA invested in 3-fund boggle, and we have an emergency fund, and she’s got about 50k i…

Should I lump-sum pay my $48,985 in student loans? I recently got a new job and will be making more income but as a consequence I’ll need to get a 2nd apartment. new income: 168k base pay 206k RSU vested over 4 years (35%, 30%, 20%, 15%) 23k bonus 25k sign-on bonus Before RSU’s my monthly income after tax will be ~$9200. I have a few fixed expenses, the most “concerning” of which being rent paid…

Saving/Investing for Someone with Student Loans Hi. I make about 6200/month post-tax and have about 110k federal student loans to pay off with an interest rate of 6.1%. The monthly amount for the loan is not decided yet, but it will be around $400-$600ish a month. I recently opened an HYSA and put about 3K inside the account, but not to the point of 6-month living cost obviously. I have not i…

What strategy should I use for paying down student loans Hey everyone, I have about 43,000 dollars in student loans. All of them are federal, there are 7 “accounts” ranging from about 1,000 dollars at the lowest to 17,000 at the highest, with an average interest rate of about 4.5%. The 17,000 dollar loan has a 4.625% rate and the 1,000 dollar one is 3.7, for context. I have been very lucky and have a …

529 student loans follow up Hello there! In the last post I asked about paying student loans back with 529 money. This post is just asking what is the process of using the 529 to pay off the loan? What do I send to my the bank to have the loan payed off? If someone can comment the process that would be amazing 😭 submitted by /u/Fit_Note754

Low interest small loans? Thoughts? Help me! My husband fell ill in the summer and it set us behind a fair bit. I had to change my rental payments from the 1st of the month to the last of the month which was fine, however my landlord is requesting to go back to the 1st of the month and because we haven’t really been able to get “ahead” or save anything extra — not to throw a pity party hit…

Should I sell my side-business to pay off my student loans? My wife and I have $91k in student loans, but I have a small app that brings in almost $4300 3,400 / mo (before taxes). I could realistically get about $120k for it (again, before taxes). However, I’m not sure if that’s worth giving up the $40k per year to pay it off quickly? Edit: accidentally swapped my app revenue numbers. submitted by …

Paying off Student Loans I have nobody in my life who is financially literate so I’m hoping one of you can help. I am in my second year of college and have taken out around 8k in loans total. I have about 10k saved should I pay off like 5k of my loans now and keep an emergency fund for if my cheap car breaks? I also make about 1400 a month, my bills come out to be about…

Should I go all in on student loans or invest? I am an 18-year-old freshman in college going for a Chemical Engineering degree. I currently have a federal loan at 6.5% for $5,500 and a private loan at 6.5% for $19,500 which will cover my entire first year. I am not sure how much my later years will cost. I will be off campus after this year which should take it down a bit and my last 2 years…

Should I take out more loans OR sell securities 27M, third year medical student expected to graduate 2026, applying neuro I currently have 145K in loans averaging about 7% a year (principle is about 140k), all from med school I have an IRA with ~60k, and a standard taxable brokerage with ~150k; my standard brokerage has grown about 45% since august 2022 (~2% per month); and a savings account …

Question about loans for people with fair credit Hello – I’m trying to find a personal loan for people with poor/fair credit (I won’t be able to get a cosigner). I may not be eligible for a Grad PLUS loan I need for graduate school (I’ve already started the program). Due to medical issues and some resulting bills I was unaware of, I have several smaller amounts in collections that will be pai…

Should I pay off my $77k of student loans in full? I’m 31 and have $77,459 in student loans (one is private with a high interest rate and the federals ones range from 5-7%). I have 91k saved in a HYSA (4.5% APY) and $19k in my 401k. This would leave me with $13k in my HYSA, which does not feel like enough of a safety net, and I want to be judicious with my decision. Thanks in advance for the inp…

72 month auto loans under 5%? Are there any 72 month used auto loans under 5%? 5% seems to be about as low as I can find at the moment. submitted by /u/CaptBrett

Refinancing private student loans — lower interest rate or lower monthly payment? Hey all. Thank you for taking the time to read this post. Some context before I get into the nitty gritty: I graduated college back in December and languished unemployed for several months before finally picking up a nice remote $90,000 tech job. I make additional money here and there from design freelancing or picking up odd jobs (but nothing c…

Should I pay my student loans ASAP? I just graduated and I am 24 bringing in $4,060 monthly after taxes. I am currently living with my parents so I have no expenses besides gas. I am looking to move out in February in HCOL area. I have the following- building emergency fund – 3k HYSA Roth IRA has 6k (have only contributed $400 this year) checking/savings has 2.3k Student loans $…