All Questions
Tagged with loans student-loan
87
questions
38
votes
5
answers
9k
views
Should I dump my savings into my student debt?
I've got about $5000 saved up in my savings account.
At the same time, I've got about $8500 left to pay off on my student loan, with all the interest that includes (6%/year, compounded monthly).
...
- 4,374
26
votes
6
answers
7k
views
Does borrowing from my 401(k) make sense in my specific circumstance?
I know the standard answer and understand that I will be losing out on that compound interest, but I am young and only need to borrow a few thousand. here are some more details:
Need to borrow $6500 ...
- 433
23
votes
7
answers
8k
views
Would it make sense to take a loan from a relative to pay off student loans?
Together my wife and I have about $80,000 in student loans. My mother in law is in the process of selling her house. We proposed the idea of borrowing ~$50000 from her, once she sells, so that we ...
- 333
23
votes
3
answers
4k
views
Paying off student loans early/lump sum -- best practices?
My wife & I have run into a large sum of cash recently and are interested in paying off/paying down our student loans -- about $30k between us, at about 6.5% avg interest.
We're both earning ...
- 233
18
votes
5
answers
8k
views
I have to pay back my student loan. When is the best time to do it?
Today, I received the news that my "Payback phase" for my student loan has begun. I was afraid this day would come soon, but it came quicker than I anticipated. However, I got the news that ...
- 313
17
votes
6
answers
4k
views
What are things to think about when paying for/taking out a loan for graduate school? [closed]
I haven't seen a lot of posts related to graduate school in this SX, but I apologize if there are. I bolded the crux of my question.
I'll apply my situation to this question as an example:
I got a ...
- 610
16
votes
4
answers
10k
views
Will our hefty student loans affect our chances of getting a mortgage?
My husband and I live simply but we're content. I'm an avid budgeter and love finding ways to be frugal. My dilemma right now is that we've been able to keep our living expenses below what we make, ...
- 2,286
15
votes
6
answers
14k
views
Saving $1,000+ per month…what should I do with it?
I am able to save $1,100 a month, after all expenses and after paying the minimums ($225 a month on my 2.24% and 3.25% student loans). I want to make smart decisions with my money, but am not sure ...
- 877
14
votes
4
answers
3k
views
Can someone help me understand my student loans?
I have more loans than these but I am wondering how to handle these three (all with the same bank):
3%, last payment ~$36, current balance $6153, original amount $5500, payoff balance $6170
2.5%, ...
- 719
12
votes
8
answers
9k
views
Paying $1000 a month to keep a car in New York City
I am 25 working in New York city making ~117k a year. After tax and various pre-tax deductions, (mta fare etc) my take home is just shy of 6k a month.
I pay $1875 in rent a month for a nice ...
11
votes
3
answers
6k
views
Can I pay my student loan with a credit card?
As far as I can tell, it's not possible to pay off student loan debt with a credit card. I'm currently making payments through Great Lakes borrowing services. There is clearly only an option to add a ...
- 315
10
votes
1
answer
3k
views
Are student loans tax deductible in US?
If I have a student loan from finishing my graduate degree, can I deduct its interest payments from salary for tax purposes?
Is there any education related tax credit that can be applied for payments ...
- 1,663
8
votes
2
answers
2k
views
Is the child responsible for the Parent PLUS Loan when the parent has passed away?
Is the child responsible for the Direct Parent PLUS Loan when the loan is under the parent that has passed away?
Specifically by the U.S. DEPARTMENT OF EDUCATION.
- 1,507
8
votes
2
answers
7k
views
Is there a most efficient way to pay off multiple loans with the same interest rate?
My Situation:
About $36k USD in graduate student loans.
There are 4 different federal loans in play, each with a fixed rate of 6.8%.
$12k w/ ~$1.2k in unpaid interest
$10k w/ ~$1k in unpaid ...
- 357
7
votes
5
answers
4k
views
College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan
This is currently happening to a friend.
She is 19 years old and doesn't qualify as an 'independent' on the FAFSA. Her parents refuse to apply for the Parent PLUS loan and also refuse to cosign for a ...
- 1,074