🔑 = If you have student loan debt, you should see if you can get a lower interest rate 💯
Student loans are crazy: more than $1.2 trillion in the U.S.
If you have student loans, you should absolutely do some research and see if you could pay less in interest.
Warning: be sure to figure out what your existing loans are like. Some federal student loans come with special features, like the ability to push pause on payments if you lose your job, go back to school, or serve in the Peace Corps (this is called deferment or forbearance).
Another major tip: Pre-paying your student loans is probably the highest risk-adjusted return you can get with any extra money. Instead of putting all your nickels in a savings account or even an investment account, pre-paying student loans can lead to some huge optimization over time.
Here are two more things to remember.
- You’re not alone! 40 million Americans have student loan debt.
- Don’t wait to re-finance or pre-pay. We have seen so many of our friends delay…and procrastinate…and say they’re doing it “next weekend”…. No! Do it NOW! Your future self will thank you 😃
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