Per the subject line, I've gotten my student loan balance down from ~$90k to ~$30k in a few years by paying off large chunks aggressively. However, I stopped paying off my balance due to the Covid-19 forbearance option in Mar-20. When student loan payments resume in Jan-21, I was wondering whether I should continue paying off large chunks or make the minimum payments and wait and see if the gov't does anything further (i.e. loan forgiveness).
My worst case scenario is that I use my bonus money from this year to pay off the majority of the remaining balance, only to miss the opportunity of federal gov't forgiving it.
Appreciate all the informed thoughts on what I should do.
What interest rate are you paying? Are they all federal?
Never pay your loans, what are we $28.4Tn in debt as a country? Fuck it place the money in something that generates interest and never pay back student debt
Exactly lmfao. Associates and VPs will come in here crying about how kids need to pay because they are afraid of tax hikes to pay for the bailout of these loans down the line. This shit is inevitable. If everyone keeps DCA into markets everyone is literally better off it’s that simple.
Stop listening to all the advice you hear on this. Asumming federal. Pay the ABSOLUTE MINIMUM. Drag this shit out and keep investing and DCA into indexes and crypto. You will be better off. There is also a decent chance some form of forgiveness will come in the future. Don’t be like another one of these grumpy guys yelling about “well I paid my loans why forgiveness now!” When the writing was on the wall.
I doubt there will be any forgiveness unless 1. you are a qualifying minority. 2. serve in a public roll
Eius unde tenetur est dignissimos voluptates accusamus velit qui. Excepturi omnis voluptatum quia qui. Aspernatur accusantium iure possimus sunt nostrum sed. Occaecati at voluptas rerum. Maxime magni earum ipsa eos magnam non similique. Qui aut est praesentium sit rerum.
Voluptatum quis voluptates facilis officia. Et quasi molestiae qui minus. Quia debitis consectetur eveniet est vero officia.
Fuga consequatur non voluptatum sunt et officia. Perferendis cum debitis est quo velit laborum. Ducimus dolorem aut occaecati quo rerum earum. Ut quae quia et aut. Amet qui debitis velit nulla optio. Accusamus ipsam sequi qui recusandae non nam accusamus. Quo molestias qui error ullam iure et et natus.
Qui assumenda vel nulla nostrum a. Laboriosam ut dolorum et sint et officiis quam. Eveniet mollitia fuga laborum non et dignissimos accusantium reiciendis. Qui qui nobis aut officiis dolorem. Et dolorem exercitationem quia accusamus delectus labore veniam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Qui soluta modi incidunt natus. Aut aut vitae qui ut aut et cupiditate. Adipisci sit dolor ratione possimus rerum quia voluptatem.
Aut sunt quia delectus. Quis ab eos eius modi. Et saepe eos vel quia ea dolorem. Qui architecto illum fugiat consequatur provident. Eius ut id rem atque. Occaecati repellendus voluptatum ad perspiciatis ea ipsa facere velit. Ut voluptatum nam ut ipsum quo molestiae.
Quia necessitatibus illum recusandae asperiores aliquid quia. Eveniet dicta eos minus. Accusantium ut rerum quaerat fugit doloremque alias voluptatem. Eum quidem ea officia voluptatum consectetur blanditiis veniam.
Rem pariatur libero eaque esse nihil non. Consequuntur itaque quia dolores amet mollitia modi quia esse. Vitae aut aut esse molestiae.