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3:44 am
January 14, 2010
Offline
QuoteRay,Â
The fact you can repay the loans is a good thing, as for paying them quickly or slowly can be debated about.
My thinking is the sooner you are out of debt is a good thing.
However as some interest on student loans can be used as a deduction on your taxes and not fully knowing your tax situation, some people like the tax break and can use it to their advantage.
You can consult a tax advisor on this.
Again, I am of the opinion getting out of debt as soon as you can is a good thing.
I invite others to post their thoughts as well.
I wish you the best.
Jon
1:26 pm
I'm a Canadian citizen who went to college here in the U.S. and am now working here on an H1B visa. I took out approximatly 150K in student loans from sallie mae to complete my graduate program. My loans are getting near the repayment date. the interest rate averages about 5.5%.
Am i better off paying it off slowly or as fast as I can? I make about 150K before taxes and keep about 100K after taxes, single, and no home. What is my best move at this point?
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