a quick and dirty way to roll in your student interest deduction is to reduce the RATE itself by your effective tax rate.
anyway as a rule of thumb, when it comes to debt AND investments, put your $$ to the highest rate, GENERALLY. I also advocate the "snowball" approach - when the lowest loan is paid off, rather than pocket that cash, roll that payment into the next-lowest loan, and so on. Basically your total monthly payment stays constant but you kick out the loans faster.
A lot of horrible advice in this thread and some good...
hope the OP can discern which is which.
Or you can take the time to help
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You will have loans for the rest of your life...house, car, wedding, spouses car, things to fill house, baby. Life gets expensive fast. If you can skate by with no loans (renting house/leasing cars) fine, but don't expect you have to.
I must be doing it wrong. Once I get my house paid off in 13 months I'll have all the above except for the debt. After 25 years of car ownership I've only had a car note for about 4.5 of them.
Life is as expensive as you make it.
My wife and I have those things as well, but we have no other debt apart from our mortgage and my student loans. We had a simple wedding, I bought a 9 year old car, our furniture is probably older than we are, our counter tops aren't granite, and our baby doesn't have a room full of toys. We just buy what we can afford.
Because all of the loans have roughly similar interest rates (No 10.9% outlier), I think this one is a perfect candidate for debt snowball because it will help on cash flow.
By and large, I advocate paying the highest interest first no matter what (That's just good math), but this case is essentially the exception where the number of loans means that you can get "Minimum-ed" to death. I'd knock them out in order of size, starting with the smallest because each loan you pay off will free up cash flow. That freedom lets you apply more cash to the next loan, or if you have a tough month and can only do minimums, it reduces the size of the minimum bite. While it does technically cost more, it will only cost slightly more and for a very small price on the interest you get an outsized gain in terms of freedom and peace of mind.
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