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/biz/ - Business & Finance

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10323513 No.10323513 [Reply] [Original]

I need your help /biz/.

So i've got about 20'000 in the bank, and the govt wants me to start paying back my college loan, roughly 7'000 in total.
Should i just pay it all back in bulk, or drag it out over years (which'll include additional interest)?
Also take into consideration that i've got no decent monthly income, and am still in college. It would suck major ass if i'd have to wagecuck longside my masters.

>> No.10323523

What's the interest rate?

>> No.10323544

Do you have the money as insurance for bad times or are you planning to invest it?

If not, pay it back in 1-2 bulks. Paying interest is lost money.

>> No.10323551

>>10323523
0.13 this year.

>> No.10323577
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10323577

>>10323551
>13%
the absolute state of mutts

>> No.10323581

>>10323544
Whichever i'd like, i supose. It was an inheritance.

>> No.10323583

>>10323551
13%? Pay that shit off ASAP

>> No.10323597

>>10323577
Nyet, it's 0.13 %. It's probably the cheapest loan you can get in my country.

>> No.10323632

>>10323597
If you are from the Netherlands and you are actually considering to pay everything off in bulk.
Than you deserve to be a wagecuck for the rest of your pathetic live.
.13% should be a no brainer unless u dont have one anon

>> No.10323682
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10323682

wow dude. your really need to ask that? and you're getting a masters? such a tough life choice.

>> No.10323776

>>10323597
0.13%? Never pay that shit off.

>> No.10323808

>>10323632
No need to be a meaner.
And no, am from Sverige.
I'm trying to get rid of as many monthly costs as possible. Right now my only constant expenses are rent, electricity, home insurance, and food.
but i see why you'd think i'm an ass. I just think it'd be really nice to be relieved of the damned thing.

>> No.10323870

>>10323682
>>10323776
ffs, you can't just choose not pay. As soon as you're not taking the loan anymore, you have to start paying it back, $120 a month or so.

>> No.10323943

>>10323808
All you need to do with your money is earn .13% interest a year. u can walk into almost any bank and just deposit your money and still earn more than u have to pay back.

dont pay back for as long as you can because it almost doesnt matter in what u invest, u will beat that .13% in the long run.

good luck anon

>> No.10323944

Pay it off. You don't want to be holding that govt backed loan when the economy implodes.