Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I suggest finding a middle ground. Pay off the debt as agressively as you can and start to invest and save a little as well.

Since you and your wife will likely be entering the high tech field and making nice incomes you will probably want to buy a home ASAP. My wife and I were in a similar position a few years ago, but were not prepared to buy a home. Owning property however became a major priority for us after our incomes and tax bills started to rise. We needed the tax shelter and you will too. Having a mortgage deduction is the only way I know of to take the sting out of the marriage penalty.

In terms of consolidating, definetly do it. The Direct Loan consolidation program is a good one. Also, check out consolidating through Sallie Mae. If I am not mistaken they will take a 1/4 point of of your interest rate for having your payment directly withdrawn from your bank account and another 1/4 point for making timely payment for the first 2 or 4 year. Check out their web site for details.

Good Luck!

Print the post  


Paying For School Guide
Trying to Tackle Tuition? The Motley Fool's Guide to Paying for School will help you fight those rising education costs.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.