Question

So we are not there yet but I have questions so I can prepare. my husband is in college (started before we got together) he doesn’t have to pay on his loans until 6 months after he graduates my question is if we have the funds available would it be smarter to pay them off as soon as they are due or to just pay the monthly amount ?  

Answer 1

I’ve been continuing to pay mine. I have the means and it’s 0% interest for me right now! Knocking them out as quick as I can!  

Comments

@besought8 we don’t have the means yet but I’m starting a savings strictly for his loans he has 4 more years to go but I’m wanting to get the amount saved so we don’t have to worry about it when it comes along. However I’d like to keep his credit building so I don’t want to pay it all off and it affect him negatively

Answer 2

Pay on them as soon as you can! Even though he doesn't have to officially start paying them until 6 months after graduation, they will (and have been) accruing interest (well, not right now if they are federal because of COVID). Paying them off sooner means paying less interest in the long run.  

Answer 3

Pay it all off as soon as you can. If you can start making payments now, do so and focus on any “unsubsidized loans” first because those accrue interest from day 1. The subsidized loans don’t begin interest until you have to start paying 6 months after getting out of school.  

Answer 4

Knock them out as soon as you can. No need to keep them on your record long term.