- Keep hounding them until you find out the interest rate and how it's calculated.
- If it's a subsidized loan, see if you're eligible for deferment (= no interest accumulates) because you're a student.
- If you have enough money in savings to cover your mortgage & bills for a few months of unemployment, plus a couple thou for parts of the house falling off, and your retirement savings are topped off, I personally would then pay down the student loans. My loans are at 3% and my savings with SmartyPig is at 1.35%, so it's a no-brainer, but even if it were a closer match I want them gone since that gives me more flexibility in the future.
- All of my current financial goals are in the ~5-year range, so none of my savings is in investments either. (Except retirement stuff, of course.)
no subject
- If it's a subsidized loan, see if you're eligible for deferment (= no interest accumulates) because you're a student.
- If you have enough money in savings to cover your mortgage & bills for a few months of unemployment, plus a couple thou for parts of the house falling off, and your retirement savings are topped off, I personally would then pay down the student loans. My loans are at 3% and my savings with SmartyPig is at 1.35%, so it's a no-brainer, but even if it were a closer match I want them gone since that gives me more flexibility in the future.
- All of my current financial goals are in the ~5-year range, so none of my savings is in investments either. (Except retirement stuff, of course.)
- lb