- April 1, 2008 at 7:10 pm #261853
Personally, I would pay off the student loan first. You can lower your taxes by using the interest you pay on the house so you actually can think of the house as a tax deduction. You really can’t take that type of tax deduction on your student loan. I don’t know, but I am wondering if you owe less on yourstudent loan than you do your house. You could use the money that you get back from your tax return and pay down on your student loan. You should also be very careful when you think of co-signing for someone else’s debt or re-finance your house for someone else. Rarely does the person pay back the loan. Just my humble opinion.
— On Sat, 8/16/08, Nicole
Subject: Budget101.com : What would you do?
Date: Saturday, August 16, 2008, 10:17 PM
Would you pay extra on a house loan or a student loan? The student loan
is broken into small private loans. I think this is my best option. On
the other hand we refinanced our home to help some family out and I
would like to get the principal down.
I would appreciate any advice.
- You must be logged in to reply to this topic.