I would put it towards the HELOC for three reasons...it's interest rate is higher than the student loan, the balance is lower, and the interest is variable. The variable rate interest rate is what would really scare me.
Interest of 3% is almost like free money (if you compare it to inflation)! AND, you are effectively borrowing $30,000 for 1.5% because you said interest accrues on half and not on the other half. So, 1.5% is REALLY like free money. Of course, I am not advocating keeping that loan around for the heck of it, but I think it is smarter to pay off the HELOC.
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