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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4
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2answers
563 views

Is it better to pay off a loan with a higher interest rate or one with a much higher principle 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
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0answers
22 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
85 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?
5
votes
2answers
825 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 ...
3
votes
3answers
238 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
30 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
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1answer
60 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
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0answers
26 views

Who can I consult about paying off my student loan?

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
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0answers
37 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
74 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
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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 ...
3
votes
1answer
263 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 ...
4
votes
1answer
73 views

What are the downsides to refinancing student loans?

I have two large student loans right now (one private one federal) that are through two separate services. As of now, these loans have recurring payments at different times of the month and have ...
0
votes
3answers
115 views

Soft Loan using a 0% APR credit Card

I am getting a new Student Credit Card . It has as 0% Intro APR for 18 months. The credit card company is ready to loan me money, which I can repay in 18 months at 0% APR. With this loan money I ...
4
votes
1answer
120 views

Can I and should I put my dad's Parent PLUS student loan under my name?

My dad took out a loan for me to go to school that currently has a principal of $58,000. Its interest rate is 7.5%. Even though it's not technically my loan, I'm paying all of it by the agreement my ...
2
votes
2answers
194 views

Am I investing properly for my future?

What should my next step be? I apologize in advance for the length of the post. I consider myself to be in a good standing, but I'm always looking for ways to improve. Student loans: I graduated ...
4
votes
3answers
877 views

Can someone explain to me how should I go about paying off my student loans?

I have two loans right now: $72k Balance - Minimum of ~$500/month payments and $30k Balance -Minimum of ~$350/month payments The part that is confusing me is how much of my ...
1
vote
2answers
241 views

Is there any way to transfer student loan debt to my independent contracting business?

I just started my first contracting business, and wanted to be able to find a (legal) way to keep the money within the LLC but still pay down my student loan debts. Basically I'd really like to use ...
1
vote
1answer
126 views

Student loans: Invest money until just before graduation (capitalization) or pay interest now?

There are lots of questions on SE about investing versus paying off student loans. This is not one of those questions. This question is about investing while you are still in school to pay off student ...
1
vote
2answers
165 views

Is this a valid strategy to reduce interest payments for student loans?

I kind of messed up and didn't pay my unsubsidized grad schools loans while I was in school, so I have quite a bit of interest accrued. In total there are 5 loans and they come to about $100k. All ...
13
votes
8answers
5k views

Should I pay off a 0% interest car loan or put money towards high principal student loans?

Within the past year my wife and I have paid off approximately $40,000 in debt - from her car loan, my two student loans, and other misc debt (new refrigerator, hardwood floor install). I had a car ...
-1
votes
1answer
120 views

Do companies offer student loan repayment assistance?

Does anyone know which companies offer some type of student loan repayment assistance programs? I'm going to be helping Congress look at a new bill being proposed to make student loan repayment a tax ...
1
vote
0answers
52 views

Can I choose to refinance only some of my loans even if they are from the same lender?

I am looking for guidance on what to do about paying back my student loans. Unfortunately I work in the Human Services field and have not been able to afford to make significant payments on my loans ...
3
votes
1answer
98 views

If you share expenses, can someone else claim student loan interest deduction?

I live with my fiancee and we share all of our expenses, car, bank accounts, etc. I'm at the max I can deduct in student loan interest, can she claim the rest of it under her taxes? Its paid out of ...
1
vote
1answer
148 views

Private student loan balance not moving

I need help trying to figure out how to pay down my private student loan. The balance is almost $20,000. Sadly at the time that I took the loan, the interest rate was 8.75% (I think it was actually ...
6
votes
1answer
200 views

Student loan debt and business owner: What's the best loan-payoff strategy?

I graduated from my doctoral pharmacy program 1.5 years ago with ~215k of student loan debt. So far, the balance has been paid down to 170k. The weighted-average of the interest rates is 7%. ...
8
votes
3answers
4k views

Paying a Navient Loan's Principal

I have the following loans: A) $12,818 @ 9.25% B) $11,499 @ 2.25% C) $10,059 @ 2.25% D) $ 3,365 @ 10% I recently received a $5000 inheritance so I would like to allocate this in the best way ...
7
votes
1answer
454 views

to what extent am I responsible for my wife's student loan?

My wife has a substantial student loan (in excess of $100k) which she aquired before we were married. We have a prenup and no community property. She currently is not working and my income is not ...
2
votes
2answers
114 views

Will I, as a CS student, be allowed to take loans for paying the fees of Ivy Leagues?

I am non-US citizen hoping to study in US. I have a good chance of getting admitted in one of the Ivy leagues in US. Considering that my family has no property large enough to take a hefty loan on, ...
8
votes
6answers
2k views

How should I pay off my private student loans that have a lot of restrictions?

I have numerous private student loans, with amounts and interest rates like this: $30,000 7% 25,000 7% 10,000 7% 5,000 6% 4,000 5% My loan provider told me I have two options. ...
1
vote
2answers
115 views

Protect Money Given Student Loan Debt

I want to protect what little money I make for my family. Currently I owe more money than I make each month. The debt I have been obliged to pay for the past year includes: mortgage & ...
1
vote
2answers
156 views

How can I fund my US college education?

How can I fund my college education if I'm not given scholarship and family wouldn't be able to take loan? How did you do it in your time? I'd appreciate any suggestions !
5
votes
6answers
475 views

23 and on my own, what should I be doing?

So I graduated in May with a Computer Engineering degree and started work in September at a major bank located in Jersey City and moved in with a couple of college friends in an apartment in Astoria, ...
9
votes
6answers
2k views

How should I invest/spend this 50k inheritance?

I am 32 and work in the non-profit sector making 30k/yr. I own my home, which was recently appraised at 202k. I was given an inheritance of 50k from my grandmother. Based on my financials, how should ...
0
votes
0answers
75 views

Are there ways to lower or postpone student loan payments while my wife is sick?

I have over $130k of student debt which is in grace, but will begin repayment soon. Unfortunately, my wife is very sick and we have a lot of expenses just to keep her alive. We simply don't have the ...
2
votes
1answer
115 views

England: Alternative to Student Finance

I am currently considering a change of course at my current University, but as I have already just started my second year of study, I won't be entitled to one years tuition fee loan from Student ...
2
votes
0answers
32 views

Should I cash out my IRA to pay my student loans? [duplicate]

I'm 27 and I have an IRA of around 125K. I'm about to transition into another position with a salary of around 85K-100K. I have around 15K in smaller debts that include credit cards and medical. I ...
0
votes
1answer
57 views

If I roll over my retirement into an IRA, can I pay off my school loans at the same time without having that sum penalized?

I want to roll over a lump sum of retirement funds into some type of savings account, but want to designate a certain amount of it to pay off school loans. Can I do it without being taxed and/or ...
0
votes
1answer
113 views

How much should I pay to bank for educational loan?

I have a bank loan taken from one of the nationalised bank and I owe 4.54 lakhs at 11% interest to the respected bank I have not paid since last 2 years towards interest So I wanted to know how much ...
0
votes
1answer
80 views

When should I reduce my student loan payments in order to save up for a down payment on another loan?

I'm currently paying off a little over $13,500 of student loans, at a rate of $300 a month and accrues approximately $60 of interest each month. My bi-weekly take-home salary is approximately $1,350 ...
3
votes
1answer
227 views

How to find the right credit union?

I have 3 months left in grad school, currently with about $50,000 in student loans (most of it at 6% interest). I also need to finance or lease a used car. Suppose I select a car with a sticker price ...
5
votes
2answers
226 views

Tax benefit to paying off student loan interest while in school

I have a substantial amount of loans from my bachelor's degree. I worked for a few years, saved money, and then returned to school full time. While working, my Modified Adjusted Gross Income (MAGI) ...
2
votes
4answers
168 views

Does it make sense to take out student loans to start an IRA?

Let's say you're an undergraduate student, and you're eligible to take out more money than you need to pay for school expenses (at a fixed interest rate of 4.66%). Due to compounding, it's always best ...
1
vote
1answer
108 views

Which is better: Guaranteed 7% or projected/historical 8%

In deciding between maxing out 7% interest rate student loan repayment on the other hand, and investing in a SPY ETF on the other there are essentially two factors: 1) Is a projected/historical 8% ...
2
votes
1answer
95 views

Borrowing money for study abroad…student loans don't apply

I have applied for a masters program in Spain, and I was accepted (yay!). However, now I am faced with the daunting task of determining how I am going to pay for it. My university in Spain is not ...
3
votes
3answers
319 views

Chipping away at large loan, or get rid of smaller ones? Student debt

I am currently $50k in debt from school. I have $9,500 in saving specifically saved for paying off student loans. I am wondering if I could get some quick advice as to what/why I should be paying off. ...
13
votes
7answers
6k views

Should I use IRA money to pay down my student loans?

I have just over $140,000 in consolidated student loan debt with a fixed interest rate of 5.75% on an income-based payment plan. My current and previous employers qualify for the Loan Forgiveness ...
8
votes
4answers
978 views

Should I get cash from credit card at 0% for 8 months and put it on loans?

I have approx $100K in student loans, and am still in my grace period. I am able to get approx $4K cash from my citibank card as a special promotion. I would not have interest on the card until April ...
1
vote
1answer
177 views

Applying additional student loan payments directly to principal while on a income-based repayment plan

My sister has a federal student loan with a total balance of about 60K and an interest rate of 6%. Her income isn't high so she's eligible for an income based repayment plan with a monthly payment of ...
0
votes
2answers
337 views

Formula for how to distribute a loan payment between multiple loans such that the remaining principal accrues the least interest?

Assume 4 loans (Balance @ p.a. interest): $10,000 @ 5.5% $5,500 @ 7.25% $2,000 @ 5.5% $1,000 @ 4.5% If I am looking to pay $7,250 towards principal only, how would I calculate the ...