Ep. 63: Spencer wants to take a break to go get his MBA

M$D: February 5, 2037

Meet Spencer

Age: 25

Spencer’s main concerns, in his own words:

I’ll keep the details limited.

$22k in student debt at 7.35% (private loan).
$29k in savings.
$10k in 401k.
Current renter with roommates.

I would potentially like to buy a home in the next year or so. Although, I may return to grad school, at which point I would not buy a home. Should I pay off the full current student loan immediately, or at an expedited rate? If I return to grad school, should I before taking on more debt?

What size mortgage can I handle? What if I were to be renting a spare bedroom (thus reducing monthly mortgage)?

What we cover in this episode:

  • How and when to pay off student loans
  • How to financially prepare for grad school

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