This week there are some helpful articles that have been written that cover topics about investing, date of graduation and other factors that all influence how your student loans will impact your life.
I have had a busy week posting articles each day here as well as a couple guest posts. It has been a pleasure to read these student loan related articles…
WellHeeledBlog.com wrote Paying Student Loan – How Graduation Date Affects Repayment
This sponsored post has some good points on what to make sure of when you graduate. For those lucky enough to have a grace period make sure you know when it kicks in in relation to when you graduated.
MrMoneyMustache.com had a thread on MDs discussing how to pay of $233k in Student Loans!
I thought I had a lot of student loans when I had $23.5k in loans. This married doctor couple has $233k in student loans and while in residency make $5750/month combined. That is an incredible debt load on a non doctor sized income.
Personally there is a really large downside to doctors having such large student loans. What I believe ends up happening is that doctors are forced to chase the money to pay off their loans and may not be able to take on really rewarding/helpful and less financially rewarding assignments.
Rob Berger from DougRoller.net answered the question “Should You Invest or Pay Off Student Loans?”
The reader was wondering if he should be paying off debt on his $180k in loans or investing.
Rob answered that since the interest rate was on average 8% per year by paying off debt he was essentially investing at 8%. I mostly agree with Rob in this case but I would also recommend that anyone paying off debt still set up their automated investing system but just heavily weight the % going to debt repayment.
The benefit of having a system established trumps is worth loosing some income.
101 Centavos wrote an interesting post on “Sallie Mae What a Tramp”
I could try and rationalize all the thoughts in this article but wouldn't do it justice! I recommend having a read. It is entertaining if nothing else!