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.
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.
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
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.
Bowl Leader
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.
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)
Rising Star
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.
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!
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.