Posted by not very smart if... on September 22, 2003 at 17:51:49:
In Reply to: Re: Re: Making a living (and paying loans) posted by 3 years on September 21, 2003 at 22:11:56:
Student loans are extraordinarily cheap right now. It's possible to have loans at 5% and even lower. On top of that, if you make less than a certain amount per year (I'm not sure but I think it's somewhere in the $75,000 range) the interest you pay on your student loans is tax deductable, making your already low interest rate quite a bit lower. If you plan on financing a house or car (or tuba - this is a tuba board after all)in the near future, you might be better off making the minimum payments on your student loans and saving up for a down payment to reduce your possibly more expensive auto, house, or tuba loans.