Pay off student loan?

[ludufuro]

I want to know if pay off student loan is good idea or bad idea? I read some information about it and it say that it is good and bad idea. I only have two loan and one loan allow to pay it off but the other one is more than 20k and I want to put more money in it. I don't start paying the student loan till june and it only $69 a month which will be pay off in around 20-25 year later but I want to put more money in it. I am planning to get a house in next 3 or 4 year but I want to pay off the student loan first before I get a house. The student loan is only thing that I want to get it taking care of before I get a house. I don't want to mess up the student loan and the house at the same time.

[cooliemae]

In general, paying off a student loan early is never going to be a bad idea. So putting as much money towards the loan as you can is a really good idea. That being said, there are some other things to consider, namely do you have an emergency fund. How are you playing on building enough savings to have a down payment for the house? What are the interest rates and amounts of the students loans you have? So more information is always helpful!

[snafu]

It's smart to plan to pay off students loans quickly. I wonder what interest rate you signed for as $ 20 K for 20-25 years @ $ 69. per month. [ Annual $ 828. x 25 = $ 20,700]
Are you planning to pay off the other SL more quickly?

I admire your plan to buy a house in the future. I hope you totally understand that unless you have saved up 20% as a downpayment you will be required to buy very expensive mortgage insurance. Mortgage insurance is in addition to closing costs, regular house insurance, municipal taxes, HOA [if applicable], mortgage and interest payments. It is very important to understand all the issues before making future plans.