Which Student Loans To Pay Off First – Should I Pay Off My Student Loans Early?
Which Student Loans To Pay Off First – Most Popular?
In the United States, total educational debt sat at about $600 billion a decade ago. Today, it’s above $1.5 trillion. That’s a whole lot of college loans dragging on young workers — and many older ones, too. On a more individual level, according to recent analysis, the average college graduate now picks up their diploma with about $37,000 in debt. Needless to say, plenty of them want to shed that burden as soon as they can. Recently, one such debtor wrote to Motley Fool Answers with a conundrum. The 26-year-old listener has been making headway on his finances, and has reached a point where he could wipe away his student loans in one fell swoop — if he drained his brokerage account and emergency savings.
In this segment of the podcast, host Alison Southwick and her special guests — Motley Fool senior analyst Jason Moser, and Ross Anderson, a certified financial planner at Motley Fool Wealth Management — consider how far he’d be wise to go to put those loans behind him.
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