Question - I am selling my house and was planning on using some of the funds to pay off student loans.. however, with all the talk about student loan forgiveness, it makes me question if I would regret paying them off.

Can someone talk me off the ledge in one direction or the other? I am so torn on what makes most sense.

like
Posting as :
works at
You are currently posting as works at

If I had loans at a 0% rate that have a remote chance of being paid off for me I'd probably put it in a high yield savings account and wait until this fall to see what happens.

like

I would wait, if it drags on past the fall (2 years in) then it’s not happening and you can pay it then (unless it’s 0% interest still)

like

I would guess it’s not going to happen, but if it does I’m almost certain it won’t be a blanket forgiveness but will have some sort of means testing baked in. Think about your relative income / net worth compared to the rest of the country and then ask yourself if you fall into the bottom 50% - if so, it might be worth holding on to. If not, seems unlikely. But agree with other poster that holding for a few months is probably prudent.

like

Thank you all! That’s along the lines of what I was thinking. My husband and I haven’t qualified for any Covid relief so we thought we likely wouldn’t qualify for any loan forgiveness either but I would kick myself if we pay and then it is forgiven. Haha

Thank you all!

like

What’s the interest? And what’s the return on investing it. If it’s not a barrier to loans and low interest don’t be tempted to just want to get rid of it. I’m going through that with my car right now. So when I’m tempted to over pay, I put it in a hysa and even that minimum amount is more than paying off 0% early.

like

Related Posts

How do you balance your FI/RE goal with charitable giving?

like

People say they are into real estate investing. What does that mean? Flipping houses?

like

[opinion] What will be the impact of recession indicators/ sentiment on bitcoin price over the next 3-6months?

like

I do t think it’s fair mortgage companies take their own sweet time to process refinance applications while we continue to pay the higher interest rates until they the application is approved. I’ve requested a refinance on aug 3rd from 3.75 to 2.85 with my current lender but the background check has been taking forever. Nothing has really changed on my end other than a job change with a 15% hike in pay. Anyone else not icing the same trend ?

likehelpful

Any ideas to hedge against inflation? So far, put some in I-bonds and Fundrise. Post tax Returns are sub-par inflation and both have long lock-in periods. Other options in the mix are farmtogether and masterworks. Any feedback? Other suggestions?

like

Probably a dumb question but- I have a sole prop with some income this year. Starting my PC (s-corp) soon. I assumed that I’d need two different returns next year- one for my entity and one for the income when I was a sole prop. But I was curious whether I can merge the financial statements somehow. My concern is that my income as a sole prop will appear high because the s-corp will be responsible for liabilities in the latter half of the year. Any ideas? (Clearly not a tax attorney)

like

Has anyone received stock options in a country they don’t live in? Obviously specific to the country but curious if anyone has had this situation before

like

I'm a selling agent, and I'm having difficulty with one of my clients. She's asking way too much money for her house and she won't believe me when I say it's not going to sell. How long do I keep trying when I know it's basically a lost cause?

like

Hi, I am new to investing, i am looking for mutual funds where i can have a long term investment. I and ready to invest 10k per month in SIP's split accross multiple funds. Can someone provide me suggestions

My CTC is 21L and i have tax deduction for home loan at 1.5L and icici policy premium at 1.5L
How can i reduce my income tax in what all other investements ? Please guide me

Moving to Dallas in June, any tips on where to buy a car?

like

How do you all go about handling beneficiaries for your financial assets? Do you just put your family members down?

like

Any advice on if your specifically assigned practice area stalls due to factors you can’t control (e.g. rising interest rates causing borrowing to stop and your a loan documentation attorney)? Most other practice areas are full or don’t have additional work to dish out at the moment so I’m not sure what to do. I’m worried about not meeting billable requirements but don’t see much I can do.

like

Ripio, the cryptocurrency exchange of Burroughs Ellis, will open its business in Florida. What do you think?

like

Partners - with the high incomes you are bringing in, do you plan on passing on significant wealth to the next generation/ your kids?

like

I am almost 23 and don’t know much about the investment and savings vehicles/strategies that I should be using. IRAs, Roth IRA’s, long-term investments, how much I should be contributing/saving for financial success, etc. Any suggestions? I currently have $4,000 in savings, and a few thousand sitting in checking that I use regularly but try to not spend too much. Rent is $1600. Likely looking to go to grad school in the next 2-3 years.

Salary: $86,000/yr (~5000 a month take home)
City: NYC

like

Anyone looking for a short-term NYC executive/corporate rental? Midtown Manhattan (available 1-4 months). Home office, fully furnished, 1bd/2ba, daily housekeeping.

like

As everyone knows rents right now are super low. My current apartment in other units is going for about 30% less than what I'm paying. I've been in the same unit for 3 years but can't justify paying as much as I am. I also don't want to move. Anyone think I can drop the rent by 30% I've never been able to get that low. But we've never had a situation like this.

like

Any tips/success stories on getting your firm to retroactively apply their MBA sponsorship program to your student loans? (My firm sponsors current employees. I'm a new employee with a top MBA.)

Does anyone use the Alight Smart Connect FSA at your firm? My client is struggling with them- apparently their FSA MasterCard has a majority of transactions declined, even co-pays, unless it is at a national company like CVS or Walgreens. Curious if anyone else has the same experience or if this is potentially a setup issue.

like

More Posts

Should I keep my appointment for a FIOS install? It’s for a house the wife and I just bought but don’t need to move into right away. Another option: give the installer a code to enter the home alone.

like

Do any of my fellow fish have experience in the franchising space? Would love to hear about any successes you all may have

like

Today I was walking back to the hospital from my car some random guy came up to me and asked me for directions while I was still in the lot. I'm new so I told him I didn't know and he literally cussed me out in the parking lot and told me I was a horrible nurse and he was going to get me fired. Meanwhile I am a PHARMACIST. And before you ask yes he was.

likefunny

What does your Tech Stack look like?

Is your agency standardized across tools or are they unique per client?

like

Starting next week and based on many of the posts in here in wondering if I’m making the wrong choice. Does anyone have any positive thoughts/stories of joining as an experienced hire? Any advice?

like

Would anyone from Roland Berger be willing to help a future consultant? Looking to apply for the Consultant role in Riyadh or ideally wait for Dubai vacancies to open up.

Hello! I’m interviewing next week for an ML1 Quality Assurance role within tech consulting. Any tips?

like

Hi there! I currently work in Worksite Wellness, I’m looking for a new job and I’m considering applying to DHS they currently have a caseworker position posted. The pay is a little more than what I’m making now. Does anyone currently work as a DHS Caseworker? Reviews on Glassdoor warn against working there. Looking for advice

like

Hello Fishes,
I recently attended interview with T-System Pune and Infosys, I cleared technical round in both of them, and I have already received an offer letter from T-System, But Infosys hasn't replied yet, after the document verification process. Should I wait for the reply or go ahead and accept offer from T-System?

like

I had a second round(which was a final round as well) of an interview couple of days back. But yet to receive any feedback on it. Normally how much time hr team takes for a revert? Waiting makes me feel anxious.

I'm having so much anxiety about my future. I am going to be an attorney in my country but things haven't worked out as planned and there's no job opportunities for financial crime compliance or regulatory compliance at my level. I'm planning to relocate to the US, I am skilled at policy writing, legal research and project mgmt. There's also transactional attorney career option. I don't know if it's necessary to become a US attorney to do what I love...I'm getting so much mixed advice.

likehelpful

How difficult is the actual CPA exam simulations compared to Becker, specifically the REG section.

like

Got PPR. For the return envelope, to address would be mine in the US. What is from address. They said no IRCC address. Please clarify if you have been through this. Thanks in advance.

like

What according to you is the best source of news in Punjab? I read jagbani but want to see what others read/ follow!!

Any thoughts on Pitch in LA?

likeuplifting

Layoffs at Mullen BOS?

like

Started looking at jobs in private accounting. I scored interviews for a Staff Accountant, Junior Accountant, and Accounting Assistant. I just finished interviewing for the Staff Accountant position which feels very much like AP/AR and Bank Recs to start, similarly to the other two positions. Does the title matter? I want to be able to grow but at the same time I want to make sure I’m moving up positions in my job search so I’m exposed to harder/higher level work.

like

Will I get job if i have 3 years of career gap initially due to medical reasons
After that i have 6 years of experience

like

Hey guys, Im 25 and I have about 35k in the bank, 21k in retirement, 41k personal invested, 5k in crypto. No debt. Is it smart to invest more during this down market or save for a house/wedding or something else that’s smarter?

like

Any Armanino peeps? Details about firm culture?

like

Additional Posts in Personal Investment Chatter

After this whole dilemma with FTX, I hope people finally realized to never trust Finance YouTubers for any advice. Got paid up the wazzoo to promote scams

like

I have 20k in voo. 20k in qqq. 20k in ffnox. About 2-3k in both arkg and arkf. Should I sell out of one of the first three and move it over?

like

Can I afford a $2000 apartment?
I make a base of $120k. Take home is $7k monthly (after taxes & $800 in 401k). Expenses are around $3500 currently with rent being $1200. I try to save $3000 a month. I’m okay with bringing savings down a little. Can I swing it?

like

I'm sitting on ~50k in cash and am about to sell my home, which should net me another 150k or so. With the recent market correction and recession, what do folks think are the best ways to 5x / 10x my money in the next 5 years? Crypto? Stocks (which)? RE? Buying and turning around a business? I know nobody knows the future, but I feel like the downturn presents some unique opportunities, just not sure what all the possibilities are. I'd say my risk tolerance is med/med-high.

like

What your 401K allocation look like?

35 years old- $155K in 401K

Current allocation for future contributions:
80% FXAIX (S&P 500)
20% FGKFX (growth)

Have about 30% in target date fund (FHDDX) and trying to cash out and either 1) throw it in above allocation 2) cash out SOME and hold in money market and buy dips. I think summer will be volatile

like

Is it just me? Or do you guys too think the stock market is over-reacting a bit. 🙄

likefunnyuplifting

anyone have a good discount for hr block or turbo tax? 🙂

like

I forgot that I have 95k in a HYSA (0.50%).. should I invest if, move it to a 9 month CD (0.65%) or keep it in there? I don’t foresee using this money anytime in the next year.

I have about 70k invested and my portfolio is kind of random (majority in S&P, VOO, then a few shares in different companies.. I usually just put money in and don’t sell).

Any advice greatly appreciated! Thanks!

like

Thoughts on IBM? Earnings were mixed, kind of a flat to poor outlook but it’s pulling back big now, is there upside with big blue?

like

32 years old and retirement portfolio is 100% equities (65% large cap, 15% international, 10% mid cap, 10% small cap - all low cost, indexed mutual funds). Looking at market news: near-record Schiller CAPE ratio, forecasts of negative 10-year returns on S&P, euphoria in more speculative assets. Thinking of taking some money out of equities (~20%?) and moving into a large bond fund of primarily US treasuries (think BND). I realize bond funds will likely take a hit as interest rates go up (contd.)

like

Anyone from a Big 4 invest through Fundrise? Trying to see if we can, but the Compliance team didn’t fully understand what it is.

like

Kicking myself in the nuts everyday for selling 300 shares of Apple between $150 and $200

likefunny

What is the best method to save up for a down payment on a home? Wife and I are looking to buy in next couple of years but we don’t really have a nest egg for a down payment (been aggressive on remaining student loans and maxing out 401k). We anticipate we will need a down payment of about 400-500k. What is the best way accumulate that - in a savings account, low yield bonds, conservative ETFs, etc?

likehelpful

Looking for a good budgeting app that can manage multiple bank and investment accounts and have different budgeting options. Right now I'm using excel and downloading my bank transactions. I know I need to do better and get with current times.

like

Looking to purchase home. My current rental lease ends in first week of September. Am I too early in looking for a home? How do you deal with double rent (rent + lease) if you close early. Any tips?

About to sell our house and relocate. Expect to receive 150-180k in cash which we will use for a down payment but until something we like comes up going to short term rentals. Where should we put this money for a few months

like