Ask Terry Questions Federal Student Loan

Federal Student Loan

By Terry Savage on June 24, 2020 | College Savings / Student Loans

I refinanced my mortgage to pay off my federal student loan. The loan is in forbearance until September 30, 2020. I currently have the money for the loan in my savings account. Where can I earn a better interest rate for 2 months other than a 2% savings account.

Terry Says

Earning 2 percent is a great return! Don’t gamble with it! Pay off the loan as soon as possible — and then PAY OFF THE MORTGAGE! Meanwhile, leave it in the bank and get the loan repayment process started.

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