Does it make sense to pay off my student loan? related questions

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Does it make sense to take out a student loan to help make larger down payment on a home?0tiantae2012-11-06 00:09:02
My husband and I have a combined income of $ 160,000 a year and are planning to buy a house in the Boston area . Housing is very expensive here , and a two bedroom apartment goes for between $ 400 to 450.000 . We currently have about $ 30,000 to be used for the down payment. My dilemma is that my graduate school is offering me $ 20,000 in student loans over the next year and a half (I'm on a full scholarship ) at the rate of 6.8 % . I do not need them for their expenses , but does it make any sense for them to take to help with the costs of houses ( down payment, closing costs , or even furniture / decor ) . We will not have 20% less , but we are close to not having to pay PMI for long. MedlinePlus MedlinePlus Besides that I have $ 10,000 in student loans ( mostly variable rate , just consolidated at around 2.48% ) , we are completely debt free . We bought the car in cash , and not expect to have to replace in the short term ( a Honda 2005) . Our debt-to- income is very low and our credit is great . I am also eligible for $ 17,500 in loan forgiveness for a few years , as I am a special education teacher urban . It is also important to note that we work very safe and there are no plans to make major changes , such as Special Ed teacher for Boston Public Schools . MedlinePlus MedlinePlus What do you think ? We would like to buy soon , to take advantage of the market and the tax credit .
Does it make sense to take out a student loan to help make larger down payment on a home?0ct2012-11-02 18:06:35
I am a full time teacher ($65,000 yr) and full time graduate student (on a full scholarship). I am looking to buy a house in the Boston area. I am being offered about $15,000 in student loans per year, at the current 6.8% fixed rate. Though I don't need these loans to live on, I'm wondering if I should take them to beef up my down payment (our savings is currently at about $30,000, we're looking at a house in the $450,000 ballpark). I will be combining income with my boyfriend, who makes $90,000 a year. Does it make sense to have more student loan debt but a bigger down payment? Some more details: I currently have about $8,000 in student loan debt from undergrad (variable rate, now about 2.5%, and about $7,500 from grad school last year (6.8%). Also, because I'm an urban special ed teacher I am eligible for $17,500 of my loans to be forgiven after 5 years (I'm in my 1st).
Does it make sense to take out a student loan to help make larger down payment on a home?2madea2012-10-27 08:02:03
My husband and I have a combined income of $ 160,000 a year and are planning to buy a house in the Boston area . Housing is very expensive here , and a two bedroom apartment goes for between $ 400 to 450.000 . We currently have about $ 30,000 to be used for the down payment. My dilemma is that my graduate school is offering me $ 20,000 in student loans over the next year and a half (I'm on a full scholarship ) at the rate of 6.8 % . I do not need them for their expenses , but does it make any sense for them to take to help with the costs of houses ( down payment, closing costs , or even furniture / decor ) . We will not have 20% less , but we are close to not having to pay PMI for long. MedlinePlus MedlinePlus Besides that I have $ 10,000 in student loans ( mostly variable rate , just consolidated at around 2.48% ) , we are completely debt free . We bought the car in cash , and not expect to have to replace in the short term ( a Honda 2005) . Our debt-to- income is very low and our credit is great . I am also eligible for $ 17,500 in loan forgiveness for a few years , as I am a special education teacher urban . It is also important to note that we work very safe and there are no plans to make major changes , such as Special Ed teacher for Boston Public Schools . MedlinePlus MedlinePlus What do you think ? We would like to buy soon , to take advantage of the market and the tax credit .
Does it make sense to pay off my student loan?0B.N.2012-11-04 15:03:42
Student loan is at a payoff balance of 15K. Have enough to pay it off and still have a good amount left over. At the same time, I am also thinking of moving in about 6 weeks and want to know if it makes sense to pay it off now and free up the $160 I'm paying a month. That same money is only earning about 1% interest right now and the interest rate on the loan is about 7%. Let me know what you think, thanks!
Does it make sense to get $40k in student loans to get a bachelor degree in finance/accounting online?3Mattie2022-06-06 07:51:12
I want to get an online degree in finance / accounting , I was thinking of doing it at the University of Missouri Columbia online . MedlinePlus I have 30 years old and has no other debt .
Does this make sense? Car Loan, Joint, CoSigner.?3Eclipse rockfish Ping â„¡ â„¡ 2012-10-15 10:16:02
My husband and I went in and bought a car . We introduce ourselves as a loan set to 2000 for a period of 72 months and a rate of 14 something . (We have decent credit, but both the lack of revolving credit . ) The next day I got a call saying he made a mistake and need to cancel the contract. My husband took the car to the stereo and resigned , with a term of 60 months and a rate of 10 per something . MedlinePlus MedlinePlus The two are trying to build credit . I understand the fact that we are married , does not affect my credit . If not make payments to debt collectors come after me as responsible for paying it, and him.
Doesn't it make sense for me to take an auto loan?0sd2012-10-06 02:54:59
Currently I'm spending $ 200 a month in public transportation . Since I'm losing $ 200 anyway, it makes no sense for me to take a car loan that costs $ 200 per month ?
Does it make sense that FAFSA only approved me for a loan?0madhuri2012-10-15 22:30:49
I'm entering SJSU , I am a dependent student and make only $ 400 a month . MedlinePlus MedlinePlus All proceeds goes to pay for my car and the rest are various , I end up having very little at the end of the month . MedlinePlus MedlinePlus I live with my mother alone , and she makes about 40k a year . Again the rent is a little high , and she does not have the support of my dad , so she ends up having a bit of savings to the end of the year . MedlinePlus MedlinePlus I've only approved for a : Fed Unsubsidized Stafford Ln $ 3,500 MedlinePlus . MedlinePlus Enough to cover my spring semester , but given my situation , I was expecting a subsidy . Is this right ? And if not, what I can do to change the course of action ? MedlinePlus MedlinePlus Thank you. MedlinePlus MedlinePlus
Something screwy going on! I am going to try and make this make sense, if I can?0clubpenguingangster2012-11-05 06:44:49
My email,one that I don't regualrly use, sent an email to my main email with something that should have been in the documents section of the computer. It also sent it too at least one of the contacts in my address book.(I did not sent this) I also go an email (to this email that I don't regualrly use)from the finance company that we have our car loan with saying that the email that I sent on friday(Ididn't send one) had the wrong address info and work info in it(it did as we have recently moved across the country) but I did not send that email to the loan company neither did anyone in my family. Can anyone tell me what in the world is going on???? Should I be worried? What should I do?
Does this make sense?24ever2012-10-24 13:48:02
A friend and I had this business idea . We have no money to get it going , and in our time , so I doubt exceed 50k in business loans (if that much ) .. I had been reading about the companies and the advantages of incorporation. So , is it possible incorportate our business , selling shares in the company to raise money ? I know this will give shareholders a partial participation , but do not want after the company grows , for someone to try and push me off the board , there is a way to secure a place for good for me and my family , and I it could sell shares at a lower price than everyone else?
Does it make sense that my lack of credit affects a car loan?5didier barreto2012-10-10 07:29:04
I have 23 years and I applied for a loan yesterday to buy a new car. My credit score is 749 and I was denied the loan effect my " lack of credit " . Most items in my report are less than 3 years old , but I thought it was taken into account in their credit score . I was wondering if this makes sense .
Does it make financial sense for me to buy a car now?0marinda2012-11-05 21:50:03
In may of 2010 I bought a Certified pre-owned 2007 BMW 328xi with 40k miles on it for $32k with no down payment. Right now I owe $6886 on it exactly. My interest rate is high at 8.9% because in the last year I had bought a house, and ran up some credit card debt during the move, so combined with the house, the car and the credit cards it looked liked like I was doing rough with money and spending all the credit I could. My payment was $553.48 per month. So, today I owe the 6.8k I mentioned and the car has 95k miles on it, 5,000 miles before the warranty is expired and I've had to have maintenance on it twice. Not routine maintenance. The oil valves were leaking once and the other time the battery cable to the fuse box had a faulty connection and melted the fuse box. The parts on these repairs were $4,000, and BMW charges around $125 an hour for labor. So, if this thing breaks down, I cant afford a major repair like that. The estimated trade in value is between $11k and $15k. I found an Audi A4, certified pre-owned with 16k miles and I've talked them down to $26,500. My bank allows bi-weekly payments on auto loans, and I was approved for the loan for 3.49%. That makes my payment $230 a month for 60 months and I have a 6 year, 100k mile warranty Option 1: Keep driving the BMW and have it paid off by the end of the year, saving $553 a month, but gambling on if it breaks down (and losing its worth, because I cant afford to repair it), but use that $553 to pay off debt and save some of it too Option 2: go with the Audi and free up less cash per month, but still some and be covered. thoughts?

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