Personal Loans – in a loop Hi so my husband and I recently bought a house that as per usual came with lots of projects and lo and behold our cards are maxed out with almost nothing in savings. I’ve always paid my cc’s on time and in full—never carrying a balance. Now, it seems I am going to have to and with being maxed out, we have exactly $0 spending money. So I’m tryi…

Should I pay my student loans now or over 3 years? I have $13K left in student loans. I have the money in my savings, but that would leave me with no emergency fund. I just opened a Roth IRA which I’m planning to max out this year. Should I put this money towards my loans first or pay them gradually? I’m 27, married, make $2700 per month after deductions. I pay $300 per month on loans and need $…

My wife has 94k in student loans – help I’m seeking some advice for this hurdle my wife and I are currently facing. I (24M) am debt-free, having gone to decent lengths to avoid it at all costs. My wife, (22F) has approximately $94,000 in student loans that I am really struggling to find a way to repay without it sucking the life out of our early 20s. Here are all the details…. Toge…

More in Savings than Amount of Student Loans; Should I pay off? I am 31 and have 45,000 in student loans (4.5-6.8% interest) and 163,000 in savings due to selling my deceased father’s home. I am in the process of planning a wedding (will be around 10,000 out of my pocket) and looking to buy a home next year. I am also currently not making an income because I am building a small business. Looking at another 2…

Student Loans Kicking My Ass Hi guys, I’m not really active on Reddit but I figured I may ask in here since I’ve been looking at a few posts that seemed helpful. First off, I graduated college in Spring of 2022 (24 years old), so I’m about a year and a half out. I have been making student loan repayments early and often (federal and private). I pay $1,250 as a minimum payme…

Just fired… guidance on student loans please

LPT: Student Loans The awful truth is that there’s basically no way to pay them off without paying above the minimum, but you have to trick yourself into doing it because throwing a chunk of money at a loan is even less satisfying than car repairs. I know that money stuff is really sensitive for people. I understand that everyone’s financial situation and loans ar…

I have enough to pay off school loans, but should I? With repayments starting back up, I’m wondering if I should just go ahead and pay off my loans($16k) or just make payments again? I keep hearing about forgiveness but I don’t want to wait for that because I’d like to buy a house within a year or 2. submitted by /u/kidcharlemagne13

Parent PLUS school loans, understanding repayment options. Trying to understand the full picture and possible loan repayment strategies…. 2 parents and 1 child just starting her freshman year. After scholarships/grants/etc, I’m looking at an additional Parent PLUS loan in the amount of $13K per semester, $104K total over the next 4 years. Last year’s combined AGI = 125K, wife works in a school distri…

Can’t afford to start paying student loans right now, how can I defer or reduce? As many of you likely know, student loans were recently unfrozen and I received my first notice this week that they want me to pay $200 per month and I just can’t swing it right now. As it stands, I’m living paycheck to paycheck, with expenses well beyond my means, but I’m kind of stuck in my current situation. I have about $18K in student loa…

I have 6.5k in student loans – should I just pay in full? I have $6,445.47 in student loans. I made a few payments during the pandemic and I’m kicking myself for not paying when there were 0% interest rates for so long, One is a direct unsubsidized loan of $2,000 – the balance is currently $1,711.96 with an interest rate of 4.530% (Fixed). The second is another direct unsubsidized loan of $5500 – the p…

Investing or Student Loans Student loan payments are coming back and I’m torn on how I should best pay them off. I had about $60k in student loans coming out of college – half in my dads name, half in mine. I paid the 30k in my dads name off recently as they had the higher interest rates. That leaves me with about 30k left across 5 loans. Over the last few years I have ma…

Plan 1 student loan – interest loans. Graduated a long time ago (hence the plan 1) interest rate is usually around 1.0/1.75 but in the last 2/3 years the interest rate has suddenly started accelerating until it’s now at 6%. Can anyone share light as to why or whether this is in fact how it’s meant to be? submitted by /u/penguins12783

Pay off student loans? Keep saving? Seeking advice Hey PF, I’m looking to get some advice on my current financial situation and next steps. My situation is a bit unique so bear with me. I’m 25 years old, single, living in a MCOL area (Denver). I make about $110,000 annually, which after tax and deductions brings me in about $6000 net monthly. I have $21,500 in federal student loans at an interes…

Now that student loans are restarting should my girlfriend just pay them off completely? Like many people she was waiting to pay off loans bc the student forgiveness would’ve wiped them out. She has about $19k in federal loans and got a pell grant, So she hadn’t been paying on them and instead was saving her payments. There’s basically no chance the forgiveness is going to happen right? And considering she has about $20k saved up is…

Should I knock out my student loans before interest restarts? I am in my early to mid 20s and make $62,000 annually. I currently have ~$38,000 saved with $27,000 Federal Student loans (2.5%-5%) interest on the varying loans). I have no other substantial debt but live in a HCOL area with $1200 in rent. submitted by /u/michaelfw

Dad offered to pay student loans Context: I originally borrowed 30k in undergrad loans and I’ve paid off 17k. I currently have 23k remaining with a 5.25% interest rate. I make 60k a year in a HCOL area and have been working for local govt for the past year. I’m in PSLF and my loans are with Mohela, on income based repayment at the moment – but I applied to SAVE last month, stil…

Alternative to payday loans and other predatory lenders Hey All – recently we gave a friend who is going through a rough patch a small loan of $750 to get him through until payday. He paid us back on time, as promised but I assume he’s going to find himself in exactly the same position next payday. We’ll lend him the money again since it’s a small amount and we’re fortunate enough that we won’t be in…

Strategy for Paying off Student Loans I’ve gone back and forth on this looking for different strategies. I have about $37k in student loans and have enough saved to pay them off outright. Obviously, I could pay them all off. But I’ve also been thinking whether to pay them all off, pay some of them off and leave one, or pay monthly for a certain period of time then just pay them off….

Should I pay off student loans before applying for a mortgage? I will have $70k – $80k in a few months when I plan on buying a home. My credit score is 805-820. I have $5k in student loans at ~4%. No credit card or car debt or any other debt. Should I pay off the loans before getting a mortgage or just put the extra $5k down since mortgage rates are higher submitted by /u/saudadee