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Hello everyone,

I just graduated from college and I'm planning on attending law school 2 years from now (so class of 2017 - weird...). I have 17k in undergraduate debt. Should I be focusing all of my efforts in paying this debt? Or should I save for law school and pay the minimum payment amount? All of my loans are subsidized (meaning I don't have to pay interest while in school, including law school) and have relatively low interest rates (3.4%-6%).

I have a decently paying job and plan on living pretty frugally for the next 2 years. What would you recommend?

Saving money instead may make more sense since you can avoid paying both the origination fee and gradplus interest rates by not taking out as much gradplus.

Pay off your 6% loans and then focus on saving imo.

I'll be a little more specific on my UG loans:

~1800 6%
~4500 5.6%
~5500 4.5%
~5500 3.4%

Advice change at all?

I'd pay off the 5.6 too in that case and consolidate the remaining 2 if they do the .5% off for consolidation program again. You might also consider making interest payments on whatever loans you don't decide to chip away at over the next 2 years. It's good to keep them from compounding if you can help it.

I put a couple thousand in a brokerage account investing in a couple ETFs. That was in December. I'm at a 7.3% return so far, it hasn't been a year. This beats the 6.8% interest I would have saved putting it towards my loans. Also, the interest from loans is a tax deduction, though I'm not certain as to whether or not you have to pay the interest or just let it rack up.

I mean, I'm not telling you to put it in a brokerage account.. but that's what I did. Not to mention, now I have the money on hand just in case I may need it. If I put it in a loan.. much more difficult to get back.

christinenyoung wrote:I put a couple thousand in a brokerage account investing in a couple ETFs. That was in December. I'm at a 7.3% return so far, it hasn't been a year. This beats the 6.8% interest I would have saved putting it towards my loans. Also, the interest from loans is a tax deduction, though I'm not certain as to whether or not you have to pay the interest or just let it rack up.

I mean, I'm not telling you to put it in a brokerage account.. but that's what I did. Not to mention, now I have the money on hand just in case I may need it. If I put it in a loan.. much more difficult to get back.

You're not taking out any GradPLUS?