Ok. We have $75k about to go into repayment at 7.6%. I applied for income based repayment, which is $900/month. Wife suggested taking a 401k loan at 4% to save on interest. Max term on the 401k loan is 7 years. This sounds like a bad idea to me, as the payment would go up, plus her 401k would be losing possible market gains.
- How much of your net-worth do you feel comfortable having in your primary residence?
- My sibling defaulted on student loans and now my parents owe $60k, destroying their plans of retirement.
- Personal Finance Educational Channels for Poland/Eastern Europe
- still in undergrad – should I start paying my loans?
- I have just over 1,500 saved up