MY wife and I just sold our Condo and used the sale to make a down payment on a house. We received about $7800 back after closing costs and everything. I am planning on using it to pay off one of my student loans.
A little background: Combined we make about 85K and I have about 80K in student loans. 55K Gov and 25K personal. There are 3 total personal loans, with the 2 of note being :
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6.6K loan with 11.5% interest. Payments: $78/ month
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11.5K loan with 7.9% interest. Payments: $120/month
Should I use the remainder to pay off the 6.6K loan and put the rest into savings? Or should I dip into some savings to pay off the 11.5K loan and use the increased momentum to tackle the other loans?
Submitted December 04, 2017 at 09:28AM by Pfargtle http://ift.tt/2AM2ZXe
