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Started By
Message
Need opinion: Let's say you have 20k cash..
Posted on 7/29/15 at 2:08 pm
Posted on 7/29/15 at 2:08 pm
Basically your life savings at this point. 26 years old and right at 30k for student loans. Potentially buying a house soon.
Better to keep the cash for a house and balance on loans? Or pay off 2/3 of loans and finance the whole house.
I'm assuming it's better to get rid of the higher interest rateson the loans but I know cash is needed for a house.
Thoughts?
Better to keep the cash for a house and balance on loans? Or pay off 2/3 of loans and finance the whole house.
I'm assuming it's better to get rid of the higher interest rateson the loans but I know cash is needed for a house.
Thoughts?
2
Posted on 7/29/15 at 2:12 pm to Tshiz
What's the loan rate
Posted on 7/29/15 at 2:13 pm to jimbeam
They vary. About 6k at 11%. The rest are at about 4-6% each. Can't consolidate all of them.
Posted on 7/29/15 at 2:21 pm to Tshiz
I'd pay the 6 and keep the rest for the house.
Posted on 7/29/15 at 2:46 pm to Waffle House
^
What he said
What he said
Posted on 7/29/15 at 3:22 pm to dallastiger55
Pay the $6,000 off today. 11% is a very high rate.
Posted on 7/29/15 at 4:08 pm to Tshiz
definitely pay off the 11% loan crazy!
Posted on 7/29/15 at 4:56 pm to Waffle House
quote:
I'd pay the 6 and keep the rest for the house.
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