Hey all,
I'll try to keep this short. A family member recently passed and left me with around $150,000. Currently I am a 23 year old Peace Corps Volunteer making about peanuts with little in savings. After I finish my service this spring I plan to attend graduate school. However, I still owe about $40,000 in student loans.
My question is should I use this new money to pay off my student loans in full? Does this effect financial aid from schools? I am confident I will get a decent scholarship based on merit but am not completely sure what the amount will be. The schools I am looking at have a sticker price of anywhere between $50,000 to $150,000 for the two years (without any scholarships).
I have three lenders and am planning to pay off the $12,000 at 6% but am not sure about the remaining $28,000 at 3-4%. I'm leaning towards just clearing the entire amount but am not sure this is the best option. I appreciate your input.
Submitted November 28, 2018 at 07:23AM by CoolerKingMcQueen https://ift.tt/2Si3mOy
