Is it better for a new grad to pay off loan debt or invest with their money?
Posted in Investing on 03/03/2010 09:59 pm by
johnlert22 asked:
I just finished grad school and I’m in debt about $80,000. I make about $65,000 per year. I got a letter from my loan company saying that in 2005, I paid $1700 just in interest. Seems like so much. I was wondering what is better long term: reduced loan debt or investing and taking the tax deduction from student loan interest?
I think my interest rate on
Stafford loan is about 2.5% and private loan at Great Lakes is 6%. I never got around to refinancing but I think I will now
Frances
I just finished grad school and I’m in debt about $80,000. I make about $65,000 per year. I got a letter from my loan company saying that in 2005, I paid $1700 just in interest. Seems like so much. I was wondering what is better long term: reduced loan debt or investing and taking the tax deduction from student loan interest?
I think my interest rate on
Stafford loan is about 2.5% and private loan at Great Lakes is 6%. I never got around to refinancing but I think I will now
Frances