Consolodating student loans
I get plenty of emails from readers with six-figure student loans for degrees in social work who have a very difficult financial road ahead.Sure, if you’re 18 and have the foresight to choose a reasonably priced college and an in-demand field of study, great.
Over 20 years, the difference between repaying your loans early and using that money to invest adds up to ,000.
I made a spreadsheet with all of my student loans, their balances, monthly payments, and interest rates.
I then set up automated monthly payments through each student loan servicer’s website.
Although I personally believe you’ll do better than 5 percent investing in stocks over the long run, many people may disagree.
In this case, whether you invest or repay the loan early, you come out even.