Should my daughter pay her Federal Student Loans or wait?
Hi Terry,
My daughter still owes $67,000 on her private college education. That is the amount left, after I helped her. She has a great job with benefits and a 401K, but I told her she could live at home to save money to pay off her debt. She has saved $60,000 dollars. Should she pay all $60,000 towards the loan, or a portion or make high monthly payments?
She is not required to start making payments until 2026 but I told her the interest is accruing.
Thank you Terry. I love when you are on WGN News.
Terry Says
Right now, I’d hold off on making any payments — but keep the money safe and handy. There is so much going on, and you should double check about the interest accruing.
If you want to write back to the email yhou receive saying your question has been answered, I’ll pass the specifics on to Rae Kaplan who can give you advice based on her particular situation.
