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  #1  
Old 03-13-2007, 12:25 PM
bnckeye27 bnckeye27 is offline
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Default Savings vs. Debt?

I have a ton of student loans - how should I balance saving with paying off the loans? Does it make sense to save much less and pay much more, save nothing and pay my loans aggressively, or save a great deal and pay my loans conservatively?
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Old 03-13-2007, 01:38 PM
fitnessk fitnessk is offline
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Default Re: Savings vs. Debt?

You should always be saving. However, in my opinion I would work to pay off my student loans in a shorter amount of time. Otherwise, you end up paying a lot more than the original loan. Once your loans are paid off, you will probably have a good deal of money more to save.
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Old 03-13-2007, 08:33 PM
ohioguy ohioguy is offline
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Default Re: Savings vs. Debt?

It depends on the interest rate. If it is low (3 to 4 percent range), don't worry about it too much. You can get a better return investing. You don't want to tie up your cash flow paying off low-interest loans.
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Old 03-13-2007, 09:58 PM
financeguy financeguy is offline
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Default Re: Savings vs. Debt?

Right. Don't focus all of your available cash flow on paying them off. Be sure to be making your maximum IRA and 401K contributions before looking at student loans.
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Old 03-16-2007, 11:24 PM
shaye shaye is offline
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Default Re: Savings vs. Debt?

I think you should save your money and pay off the loans conservatively...however that would only be true if the interest rate wasn't of a raping rate lol...what's the interest rate like?
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Old 03-20-2007, 04:37 AM
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wizard1974uk wizard1974uk is offline
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Default Re: Savings vs. Debt?

Quote:
Originally Posted by bnckeye27 View Post
I have a ton of student loans - how should I balance saving with paying off the loans? Does it make sense to save much less and pay much more, save nothing and pay my loans aggressively, or save a great deal and pay my loans conservatively?
Which country are you from?
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