How do I pay off my loans?
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I have 4 federal student loans: two are at 5.7% and the other two are at 4.8%. 2 of them are funded, and the other 2 are not. Together, these loans add up to $25,552. With my husband’s income, we pay our bills, so i can put all of my income- $12,000 a month before taxes—on these loans. What is the best thing for me to do? I'm not sure if I should combine these loans, apply for the save program, or avalanche. I would love some help!
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Combining your loans might not be the best options with your suggested interest rates. In your case it’s better to consider the avalanche method. Just focus on paying off the loans with the highest interest rate (5.7%), and then move to the loan with least interest rate. With this method you can save a lots of money.
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