spending money left and right

Well, after several years, I wrote this evening the check which will free me from the burdens of a student loan. To be fair, this is the second time I've paid off my loans - the first was after undergrad. But it's still nice to have one less thing eating away at the paycheck. Especially given the way I've been hitting the ebay lately!

Shelby commented:
We did that last month too! Grad school loans, they were.
on Wed Feb 7 23:28:01 2007

Andrew commented:
I keep toggling back and forth on what to do about my student loans. Right now, in lieu of an actual decision, I am accruing money into a money market account. Since the account gets 4.8% interest and my loans are at 3.5%, I don't feel too badly about this. The temptation is to accrue the balance of the loan, and then just let the interest from the money market (or a higher rate cd) counter the interest from the loan and just take the full 10 years to pay it off. On the other hand, being completely debt free would feel really good. As i said, I'm of two minds about this subject
on Thu Feb 8 09:11:33 2007

David commented:
Obviously, the best choice is to accumulate the money so long as you can get a higher rate investing somewhere. Effectively, paying your loan is the same as investing in something with that loan's interest rate. You would never choose to invest in something that gets you 4 percent if you can get 5 percent elsewhere. My problem was that my loans were at 5.9 percent or so. Thus the choice was easy. Of course, there's also a question of one less bill to pay (if you are writing checks), and one less thing to think about (even if you aren't).
on Thu Feb 8 09:50:05 2007

Anonymous commented:
someday I will pay mine off, but righ tnow I am only pays 2% in interest...so I figure...why hurry.. Albion was wayy too expensive. Coburn
on Thu Feb 8 13:03:39 2007

Nikki commented:
Congrats... but of more interest... wotcha buying on eBay? ;)
on Thu Feb 8 14:39:48 2007

Add a Comment
Back to the Blog