M$D: February 5, 2037
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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