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Should i pay off school loan or use the money on another investment? |
Should i pay off school loan or use the money on another investment? It all depends. How old are you and what is the amount of the debt? What interest rate are you paying on the debt? What other investments are you considering? Are you currently working and how much are you earning? Pay the loan off. It will be worth it in the long run. pay off student loan. less debt in your life will help you feel freer to pursue other things in your life. If you will be guaranteed a greater interest rate than the one you are paying on the student loan, make the investment. If not, pay off the loan. If you have a loan at 5% and the investment makes 10%, your real return is only 5% (because the interest on the loan is eating up the other 5%). Pay off the loan first, then invest. Unless we're talking about investing in a 401(k) with a company match - do that, up to the company match pay off the debt because when you lose your shirt in the investment, you'll still be in debt..double debt depends on the loans rate and the investment's rate and risk......if you can do a cd that's greater than the loan......invest, you'll come out on top, even if it's only a percent or two. school loans are usually very low and cd's are getting higher now days If the return on your investment is better than the interest rate of your school loan then you should invest. |
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