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DapperAdhesiveness99 OP t1_iy9xuw5 wrote

Reply to comment by AznXKitty_ in Save for move or pay off student loan debt? by DapperAdhesiveness99

Thanks for your response! The current interest rate on these loans is 0% because of the payment freeze which could last up until June of 23’. After payments resume, I am looking at an interest rate of between 4.4-5%. I currently have a HYSA through Marcus that I could pour into. That’s not a bad idea.

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AznXKitty_ t1_iya3xf0 wrote

Look at it this way. You're paying 1-1.5% interest to have your money rather than pouring it into paying off this loan. You can calculate how much that is monthly/yearly and decide for yourself if it's worth it.

And between now and the payment resume day, you keep that 3% yield completely

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DapperAdhesiveness99 OP t1_iyaebpo wrote

That’s solid advice especially consider that the payments/interest rates are frozen. I will definitely look into this, thanks for your input!

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