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Student Loans

By Terry Savage on June 08, 2021 | College Savings / Student Loans

Hi Terry,
I have student loans and it has been on hold in the past year due to Covid-19. I have been saving to be able to pay off the loans. I have enough saved now and I was wondering if it is worth paying it off? After I pay off the loans, I will still have some savings. I do not have a mortgage or rent/ utilities. Please advise.

Terry Says

Ph definitely DO pay off those loans. They must be at much higher rates than you can get on your savings. You will feel such relief without those loans hanging over you. So wait until this fall to see if maybe — at the end of forbearance in September — there might be ssome kind of partial loan forgiveness — But if there is not, just go ahead and pay them off!

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