I’m a 30yr old professional in the oil & gas industry with $140k in student loans. Interest rates vary from 3.5-7.5%. My total min monthly payment comes out to $1500. Monthly take home pay is $3600. Other monthly expenses are $300-400. How should I tackle my debt? Avalanche or snowball method? 401k?

I do contribute 15% to my 401k. Dave Ramsey says to throw everything at debt. Should I decrease my contribution for the sake of paying off debt quicker? My company matches and I save on taxes so I’m weary about not contributing into my 401k. Paying down the debt as quick as possible is my top priority though.

P.S. I’m not an engineer. I’m currently in production operations with decent opportunity to advance my career. 4 years experience. Bonuses are about 10% each year. Raises so far have been about 4%. Definitely considering going back for an engineering degree. But, is another $50-75k debt worth it?!

Submitted March 28, 2018 at 11:24PM by BU1845 https://ift.tt/2GCFlzm