The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/i-would-like-to-hear-opinions-on-whether-i-should-30393706.aspx

Subject:  Re: Student loan scenario Date:  11/21/2012  1:13 PM
Author:  legalwordwarrior Number:  306465 of 308881

I would like to hear opinions on whether I should pay off a $13k student loan with a recent received inheritance or pay it off over time. The loan has a 6.8% interest rate. I am currently working with a comfortable income and have no problem making payments.Thanks for your input.

Would paying off the loan wipe out all the inheritence money? Or would you still have some cash left when the dust settles?

Personally, I'd pay it off, but that's me. If you don't have any other debt, and you'd like to keep some of your cash available for emergencies, you could always make a large payment to pay it down in order to shorten the payback time.

LWW
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us