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So I owe about $7,000 in loans that have zero interest and I am trying to determine the best way to move forward in 2022. Would you pay it all off now or continue to make the minimum payments and invest the rest?

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I personally would pay the minimum. If there is any reason to believe that you might end up in a position to default on a 7K loan then I’d reconsider. However, I doubt that’s the case so I personally would pay the minimum


Don’t pay it off a minute early with 6% inflation.


It's your parents money. Pay them back. If you're looking to risk capital on a investment, use money u can afford to lose. Or risk your credit with a lender or credit card, rather than your family.


SM1 - I should’ve specified that in the post. C1 - They told me to take the approach that would benefit me the most. They aren’t worried about losing gains on $7,000 or using it for a future purchase

I'm in a similar situation. Pay the minimum and invest the rest. No reason to be in a rush to pay off low (or no) interest debt. You can make more in the market (or even in a savings account lol).


From an accounting perspective, you always seek the most beneficial payment terms possible. Others pay you immediately, you pay others WAY down the road. At zero interest, there is no quantitative benefit to paying a Penny over the minimum payment. *This reasoning implies the discipline to do something productive with the money that you aren’t paying toward your loans. .


Agreed with the above. Only pay it all off if you are one of those people who loses sleep over owing money.

It depends on if you have a fully funded emergency fund. If so, do what we gives you the most peace of mind. Id put a chunk of that 7k i-bonds and then reassess in a year so my money can keep pace with inflation.

Thanks everyone!

When is it due? Personally I would want to have peace of mind and pay it off if due soon….if longer term then I would consider I bond / low risk investment depends on the time horizon

Agree. I think the comments above were based on federal student loans. Pay back family ASAP it shows responsibility and allows them to reinvest.

You mean like side hustle/investments I can guide you on some

Send me a message

Put your normal payments into a savings account, invest savings account into money market fund, when the loans are due, pay as much as you can off with the saved money and interest.

Pay it off at a steady amount per month so it’s paid off before interest rate changes. Invest the rest. Many would advise to invest your money, but just make sure to avoid a situation where you are paying more in loan interest than making in market returns…that would mean, you’re losing…

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