How Fast Should I Repay Student Loans?

[Driller1]

Originally Posted by ncole1

I don't like debt either, but this is an example of a case where avoiding it at all costs is simply irrational and quite costly.

Yes.......I get your point.

I likely have cost myself over the years.

I know when I when to the bank for a certified check to buy my first good well rig the manager ask me why I wanted to use my money.

They wanted me to get a loan.

[ncole1]

Originally Posted by Driller1

Yes.......I get your point.

I likely have cost myself over the years.

I know when I when to the bank for a certified check to buy my first good well rig the manager ask me why I wanted to use my money.

They wanted me to get a loan.

What interest rate were they offering, and what were the terms?

[Driller1]

Originally Posted by ncole1

What interest rate were they offering, and what were the terms?

It was a while ago........back in 08 or, 09........I really do not remember.

[H'ton]

Get an extra job and pay this off in a year...year and a half TOPS. Approach it with that level of urgency.

If you must have an emergency fund, I would set aside $1,000 and everything else goes toward the student loans. Once you are back to level, you can focus on turning a $1.00 into $1.50, $$2.00, $3.00 etc. but first you must get your head above water.