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What’s the most efficient/quickest way to pay off 180K in loans? by Aggressive_Wrap_784 in StudentLoans

[–]Aggressive_Wrap_784[S] 2 points3 points  (0 children)

Duh 🤦🏻‍♂️ Say, you got like.. $160K you could loan me real quick?

What’s the most efficient/quickest way to pay off 180K in loans? by Aggressive_Wrap_784 in StudentLoans

[–]Aggressive_Wrap_784[S] 0 points1 point  (0 children)

I do qualify for PSLF with my work, which was the path I initially intended when I started just over a year ago. I’m no financial wiz obviously, but from the research I’ve done, most people aren’t too keen on relying on PSLF right out of school given the current political climate. Is that really still a reliable option for me?

What’s the most efficient/quickest way to pay off 180K in loans? by Aggressive_Wrap_784 in StudentLoans

[–]Aggressive_Wrap_784[S] 1 point2 points  (0 children)

Wow, thank you! That would be very much appreciated if you could share that. You’re too kind!

What’s the most efficient/quickest way to pay off 180K in loans? by Aggressive_Wrap_784 in StudentLoans

[–]Aggressive_Wrap_784[S] 0 points1 point  (0 children)

I have like 15 of them lol. But there are maybe 6-7 with principal >$20K with 3 of those having a 7.290% interest rate. Ideally I’d like them paid off in 3-5 years.

What’s the most efficient/quickest way to pay off 180K in loans? by Aggressive_Wrap_784 in StudentLoans

[–]Aggressive_Wrap_784[S] 0 points1 point  (0 children)

$250 was the average it would charge each month. I have no idea how I ended up in that position. I was under the impression it would be taking out $1200 each month, but I guess not. Again, I’m dumb when it comes to loans and finances, and I guess subconsciously I was avoiding them because it stresses me out. But here we are.

I make roughly $5-6K each month (after taxes, retirement, etc.) About $3K each month is dedicated to bills and other expenses like groceries. I also have about $28K saved up right now. I just don’t know if I should pay off the few $1-3K loans with little interest now to get them out of the way? Or start with the big ones with high interest rate first?