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> What happens if things go sour and you can't make minimum payment anymore? Keep paying using the money you've saved from investing. I mean, if you have no wi

> What happens if things go sour and you can't make minimum payment anymore? Keep paying using the money you've saved from investing. I mean, if you have no will power, aren't organized, can't save because you have a gambling problem, etc., paying off your student loans sooner might make sense.

unreal37 12y ago
So the stock market has a little correction, and he loses his job in the resulting recession (a la 2008). The debt doesn't go down, the minimum payments remain the same, and now he has no income and half of the investment amount he once did. He has to take what was his "emergency fund" and use it to pay debt. Debt is an awful burden to carry around for years. It limits potential decisions. When things go wrong in life, and they do, the timing is never great. Do "future you" a favor and ditch debt when you can. Source: life experience
- gohrt 12y ago
  Or file for banruptcy.
  - unreal37 12y ago
    Apparently it's not easy to get rid of student loans in bankruptcy. IIANL. Also, isn't bankruptcy pretty brutal for a couple of years at least? Some employers do credit checks. I was even asked "Have you ever been bankrupt?" in my last job interview.
  - chrishynes 12y ago
    Student loans can't be gotten rid of through bankruptcy.
    - jrs235 12y ago
      Contrary to popular belief, while it is difficult, it is possible in certain situations to have student loans forgiven, canceled, or discharged. https://studentaid.ed.gov/repay-loans/forgiveness-cancellation#discharge-in https://studentaid.ed.gov/repay-loans/forgiveness-cancellati...
      - dragontamer 12y ago
        Thanks for the link. It still seems true. Simple bankruptcy does not wipe out your student loan debt. You need to go above and beyond bankruptcy and win a court case against your creditors in court after you've declared yourself bankrupt.
  - dragontamer 12y ago
    Student loans follow you through bankruptcy.

unreal37 12y ago

So the stock market has a little correction, and he loses his job in the resulting recession (a la 2008). The debt doesn't go down, the minimum payments remain the same, and now he has no income and half of the investment amount he once did. He has to take what was his "emergency fund" and use it to pay debt. Debt is an awful burden to carry around for years. It limits potential decisions. When things go wrong in life, and they do, the timing is never great. Do "future you" a favor and ditch debt when you can. Source: life experience

gohrt 12y ago
Or file for banruptcy.
- unreal37 12y ago
  Apparently it's not easy to get rid of student loans in bankruptcy. IIANL. Also, isn't bankruptcy pretty brutal for a couple of years at least? Some employers do credit checks. I was even asked "Have you ever been bankrupt?" in my last job interview.
- chrishynes 12y ago
  Student loans can't be gotten rid of through bankruptcy.
  - jrs235 12y ago
    Contrary to popular belief, while it is difficult, it is possible in certain situations to have student loans forgiven, canceled, or discharged. https://studentaid.ed.gov/repay-loans/forgiveness-cancellation#discharge-in https://studentaid.ed.gov/repay-loans/forgiveness-cancellati...
    - dragontamer 12y ago
      Thanks for the link. It still seems true. Simple bankruptcy does not wipe out your student loan debt. You need to go above and beyond bankruptcy and win a court case against your creditors in court after you've declared yourself bankrupt.
- dragontamer 12y ago
  Student loans follow you through bankruptcy.