View Single Post
  #2 (permalink)  
Old 01-19-2007, 11:05 AM
Broken Arrow Broken Arrow is offline
Foot in mouth diseased
 
Join Date: May 2006
Posts: 4,657
Points: 25090.40
Donate
Default Re: Pay off student loans early or take the tax deduction from the interest?

Welcome, seaweed.

Lucky for you, your balance isn't so high, even if the interest rate is a bit on the high side.

So, whether or not to pay it off really depends on what the rest of your financial picture looks like. Do you have other debts that have higher interest? Perhaps ones that you can't deduct? What about an emergency fund? What about a retirement fund?

Only if there are no better options to apply your money would I consider paying off the student loan debt. In your case anyway.
Reply With Quote