Hello all!
I graduated this May with a nursing job offer that I started last week. I'm loving my job but I'm a little confused about how to best tackle my student loans.
I have $27,000 in student loan debt. All loans are FAFSA and have a varying APR of 3.66-4.75. There are a mix of subsidized and unsubsidized loans, the ones currently not collecting any interest will not start doing so until December of this year. I am, on my paycheck I will be getting this Friday, receiving $7,500 worth of bonuses which is taxed at a rate of 28% (so $5,100).
My question is, should I put the money towards the highest apr loans that are currently gaining interest, or just the highest apr loans in general? The ones gaining interest now are all in sets of $2,000 so they are not gaining much.
Also, while I have your attention, can I just ask if my budget looks feasible?
Take home after taxes ~$2,800 a month. This includes the 3% match to my 401k I do. Rent (all utilities besides internet included) $700 flat every month Internet: $50 Food: $120 (small woman, I don't eat a ton) Gas: $30 (5 minute commute!) Student loans: $1,200
That leaves $600 for everything else, like fun, going out to eat, and keeping back some to save. I have an emergency savings account that currently has $1,200. I also have a vangaurd stock portfolio from childhood with ~$4,000 in it I can have in my hands in 3-4 days if I had an emergency. My car is paid off, my parents are covering my insurance until my student loans are paid off. I need to pay them off as quickly as possible because I want to go back to school for CRNA in the next few years. That involves not working for 2-3 years so I'd like to at least pay off my first set of loans.
I use my credit card for almost all my monthly purchases and pay it off in full each month. It currently is at it's 0% introductory rate.
Submitted July 18, 2017 at 11:13AM by noonehereisontrial http://ift.tt/2uzcN3n
