Private Student Loan
My son just received an inheritance and wants to put a substantial amount toward the principal only of his private student loan balance (fixed rate). Is there any reason why he should NOT do this? Thank you in advance for your input!
Terry Says
Since it is a private loan, it won’t be impacted by any “presidential pardons” for student loans! (If it were a Federal student loan, I’d advise him to wait and see what happens in that regard.)
Yes, pay it off! Great idea. The interest rate is likely way higher than any other no-risk investment.
