I already made this decision but I'm wondering if it was the right one.
We have $58,000 in debt, but the major portion of that - $25,000 - is my student loans.
They are at the lowest interest rate of all of our debt, except for a $1,300 hospital bill at 0%.
I was able to get another 12 month deferral where I don't have to make payments on the student loans. Based on the fact that my income stinks.
Should we pay nothing on the student loans, and pay more towards the higher interest debt first and get that knocked out of the way as much as possible in the next year - and then with some of those payments gone, we can more easily afford to pay on the student loans?
Or should we make payments on the student loans, because after all, I graduated in 2002. That was 9 years ago. I've probably paid about $3,000 on them from the original. That's just sad. I keep deferring them and putting them in forbearance for millions of reasons, oh and I went back to school for a master's and they were on hold for a while and I racked up more debt.
30 year old wife & mom to a 5 year old girl
| Pounds lost: 50.4