Should I diminish all my savings to pay off my school loan?
Here's where I am at. When I started my first quarter at college, I didn't have a job. In order to pay for school, I took a $5500 loan (Not sure of the name, but I only have to pay it off after I graduate, but it does gain interest).
Now I have a job (pays just above minimum wage) and can easily pay for tuition on monthly payments. With the job, I have saved up $150 a week, and acquired $6500 in my savings. My loan is at $6200. I'm currently living with parents and only required to pay for tuition. I'm close to finishing my 2 years at a Community College and will inevitably, transfer, move-out, and be completely on my own (financially).
Knowing, I will be on 100% loans at University (can't afford it). Should I pay off my loan debt while dissipating my savings, or should I let the loan gain interest while living off the $6500 savings?
Thanks for reading, really appreciate any advice.
Submitted March 07, 2017 at 02:26AM by IsXp http://ift.tt/2lR1iwc
