The Motley Fool Discussion Boards

Previous Page

Personal Finances / Paying Back Student Loans

URL:  https://boards.fool.com/student-loan-heloc-or-taxable-investing-23503099.aspx

Subject:  Student loan, HELOC or taxable investing Date:  1/3/2006  3:30 PM
Author:  sbink Number:  4066 of 4850

Hi - I have learned a great deal off these postings for many years. I have worked aggressively to live beneath my means and get rid of credit card debt. about 30K.

I funded both a BS and grad school with stu loans and credit cards. Graduated grad in 2002.
Consolidated loans in 98 and then again in 02. Student loan was 83K at 5.65 - 1/4 with direct debit. Currently owe about 80K.
In 11 more months rate will drop 1 point to bring me to 4.625.

Currently max out 401K and Roth -
Cannot deduct Stu loan interest
8 more months on a car loan at.9% interest - this will free up another 363/month

House recently got appraised for 210K owe 141K

Should I pull a HELOC, combined with a 0% credit card and transfer the stu loan and get the tax write off?

Or keep the stu loan and invest 10K/yr in a taxable account?

Or do a mix of both?

Thoughts?
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us