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Putting off student loans that aren't charging interested in a time of high inflation is smart not stupid
by thebean11 4y ago
Putting off student loans that aren't charging interested in a time of high inflation is smart not stupid
- jcadam 4y agoNot to mention politicians teasing loan "forgiveness" makes me afraid to make payments for fear of being a sucker when the debt is wiped away in the name of buying votes.
- nerdjon 4y agoI disagree, had I continued to pay the loans all of that money would have gone to principal instead of a good chunk going to interest. So I could have made some good progress on the loans themselves. I know they are talking about forgiveness, but the numbers I see thrown around are about 10k of forgiveness and for people making less than 100k
- thebean11 4y agoWere the loans charging interest during that time though? You could have put the money in CDs / I bonds / savings account, earned some interest, then paid it all towards the loans when the pause ended.
- nerdjon 4y agoAhh I had not considered that, TBH I don't really let myself think about doing things like that given I don't have a safety net to fall back on yet. But yes then I would agree, doing that and then putting it all towards the loans before the forgiveness ends would have been better. But having really done nothing, if I had just continued to pay it that would have been better.