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Pay Extra on Student Loan vs Invest?
Posted on 2/13/24 at 9:43 am
Posted on 2/13/24 at 9:43 am
3 Student Loans Remaining Balance: $52,702
Minimum Payment:$615.47
Standard Payoff Date October 2033
Interest rates of 5.3%($13k), 5.28%($19.8k), 4.3%($19.8k)
We are leaning towards paying $2,750-$3,000/mo and snowball the remaining based on interest rate and and have this sucker paid off by September/October of 2025 or maybe even 1-2 months sooner based on overtime, bonuses, etc.
We can comfortably budget this amount, or do you have any other recommendation that could save/make money in a similar amount of time? We just want it GONE.
Minimum Payment:$615.47
Standard Payoff Date October 2033
Interest rates of 5.3%($13k), 5.28%($19.8k), 4.3%($19.8k)
We are leaning towards paying $2,750-$3,000/mo and snowball the remaining based on interest rate and and have this sucker paid off by September/October of 2025 or maybe even 1-2 months sooner based on overtime, bonuses, etc.
We can comfortably budget this amount, or do you have any other recommendation that could save/make money in a similar amount of time? We just want it GONE.
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