So for some context, I’m 26, live in NYC and make around 80k a year. After living above my means for a few years, my parents have graciously allowed me to move back in for a while and live rent fee for a few months before I either move out again, or begin to pay them a fair amount of rent.
I currently have 2 separate student loans. One with about 18k left and 7.76% interest, and another with about 14k left and about 6.5% interest.
I make monthly payments to both of them (above the minimum) but I feel like I’m barely making a dent in them after 3+ years since graduation. I have about 20k in my savings account right now.
My question is, would it be a bad idea to leave myself near cash poor to completely pay off one of these loans, preferably the one with higher interest?
Any advice you guys have would be greatly appreciated. Thanks a lot.
Submitted January 17, 2019 at 06:56AM by vindollaz http://bit.ly/2TTDfOH
