A student loan is a loan taken for the purpose of education. Ideally the country tag should also be used as the response may differ based on the country.

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11
votes
6answers
3k views

Should I use short term loans to pay for student loans?

I have about $30k in student loans. I graduated last May and have a steady income. Now, my company's credit union offers $3.5k loans at 3% to be repaid over a year (they automatically deduct from my ...
2
votes
1answer
76 views

Pay down a big loan or pay off a small one? [duplicate]

I have two student loans I would like to pay off: A: $6000 - 6.5% B: $3000 - 6.5% I am receiving a tax refund of a bit over $3000. I am not sure whether to pay off B in one fell swoop to get it ...
1
vote
2answers
123 views

How often should I pay my student loans?

I've got ~$30K in student loan debt, spread out between different loans with different interest rates. My minimum payment is $190, but I'm in a financial position where I can afford about $750 per ...
14
votes
4answers
4k views

Paying Off Student Loans Early

I currently owe $34,558.00 in student loans ($31,000.00 principal + $3,601.83 unpaid interest accrued so far) with an average interest rate of 4.877%. I just started working full time ($70,000 GAI) ...
2
votes
1answer
57 views

NAVIENT Auto-Pay Amount Cap

Currently Navient is saying that Auto Pay amounts cannot exceed the minimum monthly payment due. I have a really hard time believing this is a technical issue, to me this sounds like a ploy to make ...
0
votes
1answer
116 views

Want to pay down principal on student loan, but AES says no

A relative of mine has some high student loan debt. I've decide to help pay down some of it. I called AES and told them that I want to apply the payment to the highest interest loan and for principal ...
2
votes
2answers
115 views

Is eliminating debt smart when considering a home purchase? [duplicate]

I'm entering into the latter half of my twenties, and I'm now faced with a question I've seen a few times before on this site: should I pay off my student loans or use the money as a down payment for ...
5
votes
3answers
238 views

Paying off student loan or using that money for a downpayment on a house

I am 22 years old, I live in Atlanta, Georgia and I am a recent graduate. I approximately owe 22,000 dollars in student debt (all federal student loans at a fixed rate). My job pays me around 50,000 ...
0
votes
0answers
74 views

Should I refinance my student loans with SoFi?

I have roughly $97,000 in student loans right now divided between federal loans and a very large private one. Here are the statuses on all of these: Federal Loans - (All fixed interest rates and 10 ...
3
votes
1answer
121 views

Is there any reason to not refianance my student loans once I graduate?

I'm completing my masters degree after this Spring semester. I have no debt from my undergraduate degree, but have accumulated around $20,000 for my graduate degree. Currently my interest rates ...
3
votes
1answer
64 views

Numerous large student loan balances: Pay down principal or refinance to 5-year loan

My spouse and I have almost $150k in Federal student loans. About 60k of this balance is in consolidated loans, and the remaining 90k is split between roughly 20 smaller loan balances (the smallest is ...
2
votes
2answers
84 views

3 loans under my name, 2 are fixed, one is a declining balance interest loan. Which to pay first?

I've searched for this answer for a while, but my loans are set up in a different way and I'd love some advice. (FYI I don't live in the USA) Loan 1: Personal loan. It was $200,000 with a 4.95% Fixed ...
3
votes
1answer
177 views

Should I Pay Off my Student Loan Debts First or Invest in an Index Fund?

I am an Albertan currently about $8,000 in debt from student loans. Roughly $5,500 of this $8,000 is an Alberta Student Loan, while the rest ($2,500) is from the National Student Loans Service Centre ...
3
votes
0answers
59 views

Are Dodd Frank rules applicable to all loan types?

My student loan was transferred to a new servicer several months ago, and I never received notice, neither from the previous or the new servicer, of the assignment of my loan. I thought that Dodd ...
0
votes
1answer
113 views

Paying credit card debt with student loans

First of all let me say that my financial future is looking pretty scary as of right now. I just started graduate school in August and I came in with about 63k in debt from undergrad. Fortunately my ...
4
votes
2answers
142 views

Proper/best way to loan money to a family member

If I want to loan money to a family member so that they can pay off student loans quicker, I have a few questions. Is it inevitably taxed by the government? What is proper documentation procedure ...
1
vote
1answer
66 views

What can I do to pay off Summer Tuition balance?

My financial situation breaks down like this. I currently have 3 semesters to graduation but I have a hold preventing me from taking classes because I owe a balance for tuition totaling in $4,114.74. ...
0
votes
1answer
41 views

advice for which debt to pay off first [duplicate]

some quick back ground: I recently sold my shares in a company I started to accept a great position with a large company. It was a cross country move for me and my family. Once my property sells ...
3
votes
2answers
102 views

Sending money to India from the United States

I am a student in the United States and I have taken an education loan back in India. My parents sent me money taken from the education loan for my tuition fees and expenses which I don't need now. ...
3
votes
3answers
81 views

Wisest option to pay for second career education

I am 30 years old and my husband is disabled and unable to work, so I am the one income for our family. (We do not have any children.) Due to a number of factors, I am considering going back to ...
1
vote
1answer
52 views

Maximizing credit benefit of paying off my partner's student loans

My partner has approximately 8,000$ of student debt which we'd like to pay off. I have poor credit (or rather, no credit) and we have figured that paying it off "on my credit" would benefit both of ...
1
vote
1answer
113 views

Using IRA to pay off federal parent plus student loans

I have $165,000 in my IRA which I'm really wanting to avoid using, but am seriously considering withdrawing or taking it all from this IRA to pay down my parent plus student loans. I am 58 yrs old I ...
0
votes
1answer
39 views

Student Loan for International Students in the US

I live and work in NJ. I am getting ready for a Part Time Program to enhance my career. University has clearly mentioned me that they will not provide any Scholarships. I am responsible to find the ...
2
votes
1answer
55 views

Student Loan Repayment

I have 3 private student loans. Outstanding Principal Balance taken 08/2011 $15,000.00 Outstanding Accrued Interest as of 08/21/15 $6,678.26 Interest Rate 11.75% Outstanding Principal Balance ...
6
votes
3answers
1k views

Should I cash out my unused traditional IRA to pay student loans?

Currently I have a traditional IRA that has about $3,000 in it. It was rolled over from a 401k two years ago and has been sitting ever since (due to various reasons). It's not making any money and I'm ...
11
votes
8answers
7k 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 ...
3
votes
2answers
251 views

What is this option offering me on my loan repayment?

I was just updating my auto-repayment for my student loan, when I was given the following option: I am not sure what the difference is here between these two options - why would allowing interest ...
4
votes
4answers
894 views

Can it be irresponsible to repay a student loan?

In a previous question, I asked if I was responsible for my wife's student loan. The conclusion after reading the answer and checking with other sources is that I am not, in fact, responsible. ...
0
votes
2answers
203 views

Investing at a young age in a transition period

I have an array of questions related to my situation: I am 19 years old and getting married in about 6 months. My parents were always very conscious of money, and always emphasized the importance of ...
2
votes
2answers
127 views

Is it possible to go to graduate school if I have debt?

I already have substantial debt in the form of personal loans ($15k). The student loans only cover the cost of tuition and living expenses, and of course does not cover existing debt. I was offered ...
17
votes
2answers
3k views

Received federal student loan collection letter, but never had one. What to do?

Yesterday I received an unexpected letter in the mail, a federal student loan collection letter from ConServe collections. I've never had a federal student loan, so it was quite surprising to receive ...
0
votes
0answers
81 views

Need Help Paying For Previous Semester of College

I went to University of Southern Mississippi for 2 years until they denied me getting financial aid. I did not have my mother's tax return from a tax year that she had not filed at the time. I was ...
1
vote
1answer
105 views

Pay Off Unsubsidized Loan with Subsidized Loan?

I'm currently sitting at about $14,000 USD in loan debt, and am still enrolled at university. I will estimate about $10,000 is unsubsidized, making the remaining $4,000 subsidized. I was fortunate ...
1
vote
1answer
252 views

Should I cash out retirement accounts to pay off student loan debt?

I have an opportunity to cash out my retirement. I have a student loan owing approx $180,000 for medical education. This loan acquires interest daily and I have been unable to get from under this ...
2
votes
2answers
119 views

Taking a student loan without any history of credit?

I'm 18 years old and I'm considering taking a student loan as all the alternatives are exhausted and I can't continue my undergraduate studies without a loan. I don't have a history of credit and my ...
2
votes
1answer
94 views

Do capital gains get factored into AGI?

My GF wants to cash out all her Apple stock for the downpayment on a house. But she is on an income-contingent repayment plan for her massive student loans—so she is afraid if she cashes out her ...
3
votes
3answers
130 views

Is this Employee Stock Purchase Plan worth it when adding my student loan into the equation?

Here are the details of my company's Employee Stock Purchase Plan: An automatic 5% purchase discount off the fair market value of the stock. Payroll deductions start on July 1st. The stock purchase ...
0
votes
3answers
106 views

Should I use my non-tax advantaged investment account to pay off debt?

Hello Personal Finance! So about 8 years ago, I got into a bad car accident which was not my fault, and which I sued the driver because they tried to drive away afterwards. I got a large settlement ...
8
votes
3answers
6k views

Is it better to pay off a loan with a higher interest rate or one with a much higher principal balance?

Okay, we'll start off with some backstory. I went to a for-profit university with absolutely no financial assistance, so now I'm in a very large amount of debt. I've read almost everyone on this site ...
0
votes
1answer
50 views

What to consider when taking out a student loan from a bank?

I am currently in a bit of a pickle as I am taking summer classes at a University (at which I am a student), and my father was denied the parent PLUS loan which I was depending on to pay rent and buy ...
1
vote
2answers
157 views

Should I pay off my 6% student loan using the income that I would normally put into my two IRAs?

Question says it all. I would fund 10k to two IRAs, or I can put that toward the student loan for the next couple of years until it's paid off. Which makes more sense?
6
votes
2answers
949 views

Should I seek loan forgiveness, or paying off my loan quicker?

A little background: I am a public worker who recently learned about a loan forgiveness program. I have already been paying off this loan (since before the program began) and was not aware of the ...
4
votes
3answers
370 views

Strategies for paying off my Student loans

For some background info on myself, I just graduated college a bit over a year ago with a Comp Sci degree. I've saved up just enough to pay off my student loans in its entirety, however, I have ...
2
votes
1answer
36 views

Can subsidized and unsubsidized Stafford loans be repaid independently of each other?

For an undergraduate student in the U.S., Stafford loans are offered to students and may contain a portion that is subsidized and another portion that is not, both in a single year. Can the ...
0
votes
1answer
81 views

Pay down mortgage or low interest student loans [duplicate]

I have both a mortgage and student loans, as many now do. My mortgage is at 5.5 % with ~ $250k balance and my student loans are at ~ $98k with 2.125 % interest. The remaining number of payments are ...
0
votes
1answer
83 views

Who can I consult about paying off my student loan? [closed]

I'm looking to pay off my student loan as soon as possible. I've been making responsible payments into my loan for years now, and I've been making lump sum payments into my loan each time I come ...
0
votes
0answers
62 views

Navient Student Loans

I am planning on putting an additional $6,000 to my student loans through Navient. I am trying to decide which option is better. I can put $6,000 to the lower total $13,550 with a 9% interest rate or ...
5
votes
1answer
103 views

Cosigner death and family responsibility

A family member has cosigned a private student loan for a foreign student. If she dies prior to the holder of the loan, is her estate responsible for repaying the loan?
21
votes
10answers
4k views

Student loan payments and opportunity costs

I'm about to graduate college and enter a very well-paid job in an inexpensive area. I am confident that I could repay my student loans much sooner than ten years, but I am wondering whether this is ...
4
votes
2answers
564 views

Should I pay off a student loan before getting a mortgage, given I have a large deposit?

I live in the UK, and have a ~£15K student loan that I started in 2007. That means that I pay extremely low interest on it (lower value of "RPI" and "Base Rate + 1%") and that I only ever pay it out ...