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Melissa
Melissa asked in Education & ReferenceFinancial Aid · 2 weeks ago

Is it better to pay off debt first?

I have 2 student loans I am working on paying off in the next couple months. I want to take care of them and move on, 

Is it better to get them out of the way first?

5 Answers

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  • EddieJ
    Lv 7
    2 weeks ago

    Have you considered simply deleting your student loans?

  • Spock (rhp)
    Lv 7
    2 weeks ago

    your question mixes financial facts [not fully disclosed -- interest rates?  tax deductibility?] and your personal psychology.  Best I can do is to suggest that, in the long run, max out your retirement contributions and keep those funds fully invested in the equity markets BEFORE paying down your student loans.  -- grampa

  • ?
    Lv 7
    2 weeks ago

    i think its better

  • ?
    Lv 7
    2 weeks ago

    It depends on what the interest rate is. If the interest rate is lower than you could get by investing the money, invest it. If it's lower than the interest on your credit cards, pay off the credit cards first. 

  • Anonymous
    2 weeks ago

    Always pay off high interest loans and credit card debt  first. 

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