UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: zero18 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308686  
Subject: Student Loans Date: 4/8/1998 6:50 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hello, Fools, I'm looking for advice.

The scenario: I have amassed $34,000 in student loans at %7.75 interest. Add an additional $4,000 at 5%, and my situation grows bleaker (more bleak?).

The good news: I have approximately $21,000 in assets. I see a scenario where I use all my assets to reduce the larger loan and then continue aggressively to pay them both off. Only then, when I've reached zero debt, would I begin investing.

Given that the interest rates are comparitively low, is there a better scenario that involves the combination of paying off debt with investing?

Also, how do you feel about paying off any remainder of the higher interest loan with credit cards offering low introductory rates, and then playing the transfer game among new credit cards?

Thanks for your time and insight.

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement