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/biz/ - Business & Finance

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56244307 No.56244307 [Reply] [Original]

I have 17k in student loans, should I pay them all back or just do the minimum every month?

>> No.56244512

>>56244307
I don't know how American student loans work. It would depend on the interest rate.

>> No.56244527

I don't know if they forgave my student loans or not but I already forgave them bitches years ago.

>> No.56244553

>>56244307
That's not a lot. Sell all your shit coins and pay it all off at once.

>> No.56244569

>>56244307
I paid off $14k like a week before interest started up again and I now owe them nothing. Feels good.

>> No.56244596

>>56244307
Are they federal loans? If so keep them. If they’re private pay them off asap

>> No.56244620

>>56244307
Just pay it off and put it behind you. Debt is for retards and don't let anyone tell you otherwise. Not having to pay the loan jew every month is one of the greatest feelings.

>> No.56244640

>>56244307
Unironically stop eating so much avocado toast for a month if 17k seems like a lot to you. How much is your car?

>> No.56244751

Whats gonn happen tomorrow to all those people that didnt pay any off during the last three years?
Was interest deferred on non federal loans? Or just payments and the interest was still accruing?

>> No.56245819

>>56244512
3-5% on 4 different 5k loans
>>56244751
Interest resumed last month loans due tomorrow

>> No.56245831

Unironically good advice in this thread.

Pay off the debt and be free.

>> No.56245853

>>56244307
I was able to get a 2% consolidated load over 20 years and have been making $80 payments forever. I noticed that it is my longest standing credit account and helps my 800+ goy score.

>> No.56245974

>>56244596
Yes fed

>> No.56245999
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56245999

>>56244307
eat rice and beans and shit in a bucket until you pay back every penny

>> No.56246696
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56246696

>>56244307
i like fireball

>> No.56246837

>>56244307
Purely mathematically, I suppose you should just do the minimum payments since you can get a higher interest rate on T-bills.
But in the real world, its not much higher, and it'll be something to keep up with, taking up your time and energy. Personally, I decided it just wasn't worth it, and just paid off a similar amount. Besides that, the whole situation with debt, student loans, the yield curve, my loan provider going to two-factor authentication, and even possibly impending CBDC's, etc. just seems a little too risky to be worth it to stay in any debt that you can easily get out of.

>> No.56247803

>>56244307
Don't listen to the boomers in this thread telling you pay it all back. The S&P 500 returns 10% per year on average, and the interest on your loans is 3-5%. I'm not necessarily saying to just put it all in the S&P though, I'm saying you can easily make more than you lose from interest by putting your money into dividend stocks, indexes, perhaps bonds, and even high interest savings accounts. Just pay pay off the ones with the highest interest rates and invest the rest.

>> No.56247826

>>56245831
Becase its the most easy question in the fucking planet, obv 10iq questions are gonna get answered properly in this 10iq board