F/23 with my first post! I've been lurking on this subreddit for a few weeks and decided to make an account today to get some solid advice.
Long story short: I let my dad handle my finances while I was in undergrad, always borrowed more than I needed, didn't make any payments during my 4 years and accrued a ton of interest. Loans A-B (below) are Direct Subsidized loans under my name, Loans C-F are Direct Parent PLUS loans under my dad's name on behalf of me.
I have 6 student loans as follows:
- Loan A - $2,910 @ 3.15%
- Loan B - $3,799 @ 3.15%
- Loan C - $22,663 @ 7.65%
- Loan D - $5,911 @ 7.65%
- Loan E - $22,642 @ 6.16%
- Loan F - $20,275 @ 6.96%
I am currently paying all of these in two batches. A-B are in level repayment of $80/mo, C-F are in graduated repayment of $600/mo (increasing in July 2018).
I make ~$53k a year in CA. I'm single and live with my parents, but they cannot help with my finances (I help them). I've started using YNAB since last month since I'm a terrible saver/spender and I'm basically starting over from a very poorly budgeted year.
I also have a CC with $864 with a $1000 limit with an APR of 15.24%. Based on what I learned in this sub, I should probably tackle this first because of the high interest rate?
What is the best way to tackle this debt? Feeling a bit overwhelmed.
Submitted January 06, 2017 at 01:53AM by SplitSecondDecisions http://ift.tt/2iIjoCz
