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Old 02-01-2009, 11:05 AM   #1
lildrew
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Join Date: Feb 2009
Posts: 1
Student Loan Management

Hi everyone,

I just finished grad school in NY and have amassed $73400 in student loans throughout undergrad and grad school. I start a job in a few weeks making about the same as what I owe on the loans after taxes. What is the best way for me to tackle this debt? Pay the monthly minimum, pay more, other suggestions?? I have no other debt but this. I have also been reading a few personal finance books figuring out if my money is best invested rather than paying off chunks of the loans. Any other reading material would be welcomed!

Here is the breakdown of the loans:

Sallie Mae - Private
$12,400 @ 3.25%
$10,400 @ 5.25%

Nelnet - Consolidated Gov. Loans
$26,100 @ 4.875%


Wells Fargo - Private
$4000 @ 4.250 %


Have not consolidated: Recent loans from Grad School

Subsidized Stafford
$8,500 @ 6.8%

Unsubsidized Stafford
$12,000 @ 6.8%



Total: $73400
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Old 02-01-2009, 07:18 PM   #2
wees
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Join Date: Jan 2009
Location: LA
Posts: 9
College is becoming increasingly difficult to afford.
Borrowing money for college is a big responsibility but college remains a smart investment for obtaining a satisfying career that earns a competitive salary.
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I'm a sucker for Loan Modification.
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