Student loans (1 Viewer)

[HuskerPAC]

Paid off my student loans last night to ring in 2021. Started at 137k 5 years ago. Feels good boys, cheers to 2021!

Off for a late session antelope hunt. 🥃🍻

 

[ThomOsborneMD]

Way to go bud has to feel amazing

 

[HuskerPAC]

Way to go bud has to feel amazing

I should have waited though, Kamala and Biden would have finished them off for me!

 

[ThomOsborneMD]

I should have waited though, Kamala and Biden would have finished them off for me!

Haha. Last I saw best hope is 10k

 

[That SOB Van Owen]

Should have made minimum payments and invested the difference. Stock market has been crushing it the last five years. Debt = good.

 

[ThomOsborneMD]

Should have made minimum payments and invested the difference. Stock market has been crushing it the last five years. Debt = good.

Depends on rates. A lot of grad school rates are 5-7% so the difference wouldn’t have been great.

 

[Mavsker]

Should have made minimum payments and invested the difference. Stock market has been crushing it the last five years. Debt = good.

Works a lot better in theory than it does in practice

Congrats OP, that’s an incredible accomplishment, especially in just 5 years

 

[BingoDingo]

Very envious OP. Well done.

 

[HuskerPAC]

Should have made minimum payments and invested the difference. Stock market has been crushing it the last five years. Debt = good.

I’ve still been investing since I was 26. Can start ramping that up more now. I heard both arguments and felt I was doing enough to invest as it was. For my own peace of mind I preferred to not owe anyone money.

 

[BingoDingo]

I’ve still been investing since I was 26. Can start ramping that up more now. I heard both arguments and felt I was doing enough to invest as it was. For my own peace of mind I preferred to not owe anyone money.

I've basically done minimum payments and invested...not because of interest differential, but because I'm banking on the libs forgiving the rest of my student loans.

 

[Jim14510]

I had about 30k coming out of college. Rate is 2.1%. Just set up auto payments and forgot about it.

 

[kenyanfeline]

I've basically done minimum payments and invested...not because of interest differential, but because I'm banking on the libs forgiving the rest of my student loans.

Exactly what I’m doing lol. The pendulum will keep swinging further left and further right each election for the foreseeable future. Since I can’t do anything about it and my opinion doesn’t really matter, I figure I’ll just take advantage personally of whatever happens the best I can.

 

[sexmonster]

I've basically done minimum payments and invested...not because of interest differential, but because I'm banking on the libs forgiving the rest of my student loans.

Investing, lol. Minimum payments and let the socialists do something for me. I’m not making it to 60 fuck investments

 

[That SOB Van Owen]

Depends on rates. A lot of grad school rates are 5-7% so the difference wouldn’t have been great.

Market has been 10%+ the last five years. This year alone was over 17%, and it was 30% in 2019.

refi rates are very low right now. You can easily refinance any student loan at a low rate - I just did mine a couple months ago at 3.5%. I’ve refinanced it three times, each time going down from my 7.8% I had on my grad school loans.

It’s really a no brainer.

 

[ThomOsborneMD]

Market has been 10%+ the last five years. This year alone was over 17%, and it was 30% in 2019.
refi rates are very low right now. You can easily refinance any student loan at a low rate - I just did mine a couple months ago at 3.5%. I’ve refinanced it three times, each time going down from my 7.8% I had on my grad school loans.

It’s really a no brainer.

Depends how important being debt free is to you I suppose. Arguments either way for sure

 

[That SOB Van Owen]

Depends how important being debt free is to you I suppose. Arguments either way for sure

I’m a numbers guy. I get the “peace of mind” side, but I follow the math. I’m also a huge believer in leveraging and taking risks while you are young.

 

[ThomOsborneMD]

I’m a numbers guy. I get the “peace of mind” side, but I follow the math. I’m also a huge believer in leveraging and taking risks while you are young.

That makes sense and I get it. But I’m with PAC, investing some now but putting big chunks to student loans then will just put the rest towards investing when they’re paid off. Think roughly will come out close to the same in the end but who knows

 

[Faux Sean Callahan]

Market has been 10%+ the last five years. This year alone was over 17%, and it was 30% in 2019.

refi rates are very low right now. You can easily refinance any student loan at a low rate - I just did mine a couple months ago at 3.5%. I’ve refinanced it three times, each time going down from my 7.8% I had on my grad school loans.

It’s really a no brainer.

I mean look at the nasdaq this year 43% 2020💰💰💰

I do get the mental state paying those damn things off would give somebody, but when you put it on paper I agree with you

 

[Jim14510]

The main problem with not paying extra on debt so you can invest that money is that most people don't actually invest it. They spend it.

 

[LoudHogRider]

I worked my way through college driving a truck and made decent money for a college kid back in the late 70's/early 80's doing that, so I never really needed the student loan $$$ as tuition rates and cost of living were a shyte ton lower back then than they are now. I decided to take out one $3K student loan (max allowed back then) as "mad money / party money" and unfortunately I received it right before the "lock of the year" came through from an East Coast betting service several guys in my fraternity house were "subscribing" to. So naturally, I did the smart thing and put the entire $3K on the upcoming "lock of the year" MNF game in favor of Buffalo.

The Bills - favored by 7.5 points - rewarded my savvy investing by getting the shit kicked out of them. IIRC, they fumbled the opening kickoff for a "scoop-n-score", then Jim Kelly tossed a pick six on a screen pass on the 2nd or 3rd play from scrimmage. It didn't get any closer as the game went on. There were guys in our "TV room" at the house that legitimately needed the $$$ for school, rent, food, etc. Collectively, we lost $17K on that game in the room that night and it was a morose and depressed group.

I did the only thing I could think of to do: I stood up and delivered a drunken, stupid Blutarsky-esque speech about "never in the history of our fraternity have so few lost so much on a single football game. This calls for a celebration. Let's go to the bar and I'm buying!" So we all trudged out of the house and walked down to the Chicago Bar and drank until they threw us out at closing time. My brothers celebrated by "leadership under crisis" by electing me fraternity President the next Sunday. True story.

In the memo field of the checks I scratched out to pay off that student loan, I always wrote, "Buffalo - Monday Night" as a reminder to myself of my stupidity. I haven't gambled* since, so it may have been money well lost at a formative stage in my life.




* This "no gambling" statement does not include unprotected sects or the stock market