I mostly just wanted to talk this through with someone:
I started grad school this past August. To pay for it, I have an unsubsidized Stafford loan at 6% interest rate. My company does a tuition reimbursement program and I should be receiving about $3000 later this week for last semester.
My plan was to immediately pay that toward the outstanding balance on my Stafford loan. However, here are a couple of additional things going on: I have one credit card with an outstanding balance of about $4800. It was a balance transfer card and currently sits at 0% interest, but that rate expires at the end of February and then goes to 19.99%, I believe. Maybe I should pay the $3000 toward the credit card since I don't HAVE to pay on the student loan until I graduate?
The other issue is that as of today, I am on an HDHP with HSA for my health insurance, which is a big change and has me very nervous. I have family coverage with an out of pocket maximum for 2018 of $6500. I was hoping to put as much into the HSA here at the beginning of the year as possible. While I can't put that $3000 into the HSA directly, I can adjust the payroll contribution each pay period through the HSA website. I was considering upping my HSA contribution and holding the $3000 in my regular savings account and then 'paying myself' the difference while I try to get the HSA funded.
If it were you, what would you do?
Submitted January 01, 2018 at 11:58AM by greenkey901 http://ift.tt/2Erh4sh
