Loan repayment advice for $100k+ student loans

[HoldThisL]

At least you paying it, Imma wait to see what Biden gonna do about my $15k

 

[Renkz]

I finally have 40k saved sitting in Ally. I plan on paying off 37k at the end of September.

Do you plan for on paying it next month, with it extended to Jan 2022?

 

[Brolic]

Do you plan for on paying it next month, with it extended to Jan 2022?

No. I’m keeping it in Ally until January now.

 

[Sugarbush]

I finally have 40k saved sitting in Ally. I plan on paying off 37k at the end of September.

You’ll get it back in no time

 

[Geek Nasty]

Dont fukk around get that debt off the books ASAP!!!

when i was your age i dragged out repaying mine over 20 years thinking how great the lower payments were. I probably paid 2X my loans on interest. And they will GLADLY let you defer or make minimum payments.

repay it in 10 years MAX. if you are disciplined enough to repay sooner do so. That debt really will have profound effects on life choices.

 

[Bboystyle]

u better make them patients brush their teeth real good to earn back that money playboi

 

[Brolic]

I put down 33k and paid off my highest loan group today. I'm gonna put down another 13k in Feb.

 

[beenz]

ll be 26 next month and I have 105k in student loans.


I just graduated from occupational therapy school. I start working in 2 weeks and I'll be making 73,000 a year. I'm also going try to get a part time/weekend job doing home health to make an extra 10-15k, but it's not guaranteed.

My bills will be less than a $1000 a month because I'm still living with my parents.

I'm hoping to make at least $90,000 a year in 2-3 years.

Is anyone here in a similar situation? What are you doing?
Should I pay 10k a year? 10% of my salary? 500 a month? or do an extended payment plan?

as long as ur living at home, u can pay those loans off. don't buy a new car or anything like that. can u put like 2K a month on those loans given your income. if u get a side hustle, maybe u can put 3K a month on those loans.

 

[Brolic]

20k cancelled and I have another 25k saved to put down when forbearance ends. I have less than 30k student loanin student loan debt left.

 

[No1]

20k cancelled and I have another 25k saved to put down when forbearance ends. I have less than 30k student loanin student loan debt left.

I don’t know if putting that money down is wise. I’d rather the flexibility that savings provides. Most financial advisors would tel you that.

 

[Brolic]

I don’t know if putting that money down is wise. I’d rather the flexibility that savings provides. Most financial advisors would tel you that.

Thats not all my savings, that’s the money i set aside for loans. I still have 4 months of living expenses saved up.

 

[King_Sage]

I don’t know if putting that money down is wise. I’d rather the flexibility that savings provides. Most financial advisors would tel you that.

depends how fast he can recoup. Maybe keep a stopgap of 10k give or take depending on your answer.. @BenchPressPapi

plus side, you'll be saving 5-6% with paying them off going forward

 

[No1]

Thats not all my savings, that’s the money i set aside for loans. I still have 4 months of living expenses saved up.

I’m using savings as a general term. I don’t mean emergency fund. I’m saying that putting down a large amount on your loans only makes sense if you’re on pace for other shyt like saving for retirement and saving up for a home. Most people with high incomes that have student loans could pay off a significant chunk and choose not to in order to save for houses, weddings, kids, etc. I’m not saying to not be aggressive but one can be overly so.

 

[cyndaquil]

At least you paying it, Imma wait to see what Biden gonna do about my $15k

 

[97Pac]

Man that day you pay your student loans off feel like your last day in jail. Life is so much easier when you don't have debt.