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$6000

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Originally posted by: Anubis
Originally posted by: imtim83
Originally posted by: Anubis
Originally posted by: imtim83
Originally posted by: Anubis
pay off a huge chunk of my student loans which are currently at about 17K @ 2.77%
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You would use all of it to pay off as much of your student loan as possible? Just asking.
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yes toss 6K into the divdent nock it down to just over 11K at 2.77%

that woudl be much better, my monthly payments woudl go from like 50$ a month to like 30$
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Why would that be so much better? What if you really need something else? Not talking about a want a need.
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well if i actually had 6K in front of me, i would deff put some into that

id prob have to think about it but that came to mind first, its the only debt i have

i guess i coudl put into an account and have it make money,, seeing as my loans are gonna be defered for 2 more years
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What if you had $6,000 right in front of you as we speak and you had around a $12,000 student loan that you were paying off right now. Would you put all of the $6000 into that?

I am going back to a different school so I should beable to get it defered again maybe so what would you do then?

What if I am not able to get it defered then what would you do?
 
RaiseUp they really couldn't but they said they would help me if I need it a little for the loan monthly payments. There $100 something now a month. Pretty expersive yes. Though I pay them back.

Should I instead pay it all off by using half of the 6k and then work to pay off the rest then go back to a different school?

Don't have a car so thinking about getting a car as well but first would need to go to drivers ed.
 
Originally posted by: RaiseUp
6k is nothing.

Why do so many ppl have student loans? Why didn't your parents help you?
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my parents have 55K worth of loans for me alone to pay back

i think 30 or so for my sister
and they will have around 20 for my brother

my school cost 35K a year and i got no fin aid so we both have loans
 
Pay off my credit card (about $400), put $5000 away in long term savings, $300 to short term savings (ie to spend, but not right now) and $300 to spend now, although I'm not sure what it would be on at the moment.
 
Originally posted by: imtim83
RaiseUp they really couldn't but they said they would help me if I need it a little for the loan monthly payments. There $100 something now a month. Pretty expersive yes. Though I pay them back.

Should I instead pay it all off by using half of the 6k and then work to pay off the rest then go back to a different school?

Don't have a car so thinking about getting a car as well but first would need to go to drivers ed.
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What is the interest rate on your loans. If it is real low you are better off Buying a CD then giving the money to the bank early.
 
Originally posted by: RaiseUp
6k is nothing.

Why do so many ppl have student loans? Why didn't your parents help you?
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Gee, mabey because my parents couldn't afford it. :roll:

Must be nice being having a silverspoon up your ass.
 
Originally posted by: SampSon
Originally posted by: RaiseUp
6k is nothing.

Why do so many ppl have student loans? Why didn't your parents help you?
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Gee, mabey because my parents couldn't afford it. :roll:

Must be nice being having a silverspoon up your ass.
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Well said!

Cheers SampSon :beer:
 
Originally posted by: Zim Hosein
Originally posted by: SampSon
Originally posted by: RaiseUp
6k is nothing.

Why do so many ppl have student loans? Why didn't your parents help you?
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Gee, mabey because my parents couldn't afford it. :roll:

Must be nice being having a silverspoon up your ass.
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Well said!

Cheers SampSon :beer:
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:beer::beer:
 
Fsck my student loans. They're 3.2% and tax deductible.

I'd take a solid chunk out of my car loan with $6,000.
 
Originally posted by: AgentEL
Originally posted by: Fx02
You guys are retarded, none of you guys said anything about buying a cheap hooker for $20. If you figure $20 for a good night, you'll can pratically get laid everday for a year, for only $20.

Just my .02 cents.
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Plus, throw in Chlamydia for free and you have a hot deal! It's like the gift that keeps on giving.
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lmao! at least you'll get laid...
 
Originally posted by: Spencer278
Originally posted by: imtim83
RaiseUp they really couldn't but they said they would help me if I need it a little for the loan monthly payments. There $100 something now a month. Pretty expersive yes. Though I pay them back.

Should I instead pay it all off by using half of the 6k and then work to pay off the rest then go back to a different school?

Don't have a car so thinking about getting a car as well but first would need to go to drivers ed.
Click to expand...

What is the interest rate on your loans. If it is real low you are better off Buying a CD then giving the money to the bank early.
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My first loan I think 12.0% but the second one is 3.37%
 
Don't pay off student loans early...
If you had $6000, invest it, earning much more interest than you're paying out. Plus, the interest on the student loans is tax deductable.

Let's say you have a student loan for $6000

You could a) pay off the student loan completely, then you have $0

b) invest the $6000 - after 1 year, you'll have as much as 6600 or more, while (not taking payments into account) your student loan debt would now be less than 6200. You're $400 ahead.

THEN, send me $20 of that $400 as payment as your financial advisor. 🙂

edit: oh yeah, then the 200 in interest from your students loans is tax deductable, reducing the net effect of the interest.
 
b) invest the $6000 - after 1 year, you'll have as much as 6600 or more, while (not taking payments into account) your student loan debt would now be less than 6200. You're $400 ahead.
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1) I want to know where you can earn a concrete 10% right now.
2) Don't forget you have to claim gains on earned interest income.
 
DrPizza investing the $6000 into what? A saving account would do that? Muntal funds and stocks are to risky in my opinion.
 
Originally posted by: vi_edit
b) invest the $6000 - after 1 year, you'll have as much as 6600 or more, while (not taking payments into account) your student loan debt would now be less than 6200. You're $400 ahead.
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1) I want to know where you can earn a concrete 10% right now.
2) Don't forget you have to claim gains on earned interest income.
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vi_edit whats your opinion on this? Think its better for me to put the whole $6000 toward my student loans now ? If not what would be better please?
 
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