Today’s post is your own tale on why i did son’t spend down my figuratively speaking during grad college, though I’d the chance to. There are lots of facets you should look at when you will be making your choice of whether or not to reduce student loan financial obligation during grad college. Within my situation that is particular on both the mathematics associated with situation and my personal disposition, it made more sense to contribute cash with other monetary goals during grad college.
Once I graduated from undergrad, I’d $17k of student loan financial obligation, $16k subsidized and $1k unsubsidized. We thought we would defer my figuratively speaking within my postbac fellowship and PhD, and I also didn’t spend my student loans down in that duration. Although my stipend afforded me the flexibleness to help make progress back at my loans I had higher financial priorities than making payments on debt that was effectively at 0% interest if I wanted to.
My Debt Was Not Pushing
I’ll make a small edit to my declaration that i did son’t spend my student loans down in grad college: We kept my $16k of subsidized figuratively speaking throughout my training duration, but We paid down the $1k unsubsidized loan throughout the 6-month elegance duration after my graduation from undergrad. I did son’t just like the reality it was accruing interest, unlike my subsidized loans, thus I paid it well once i possibly could.
Since the remainder of my loans were subsidized, not merely did we not need in order to make re payments throughout their deferment, these were perhaps not interest that is accruing. I became effortlessly borrowing cash at 0% interest. Whilst in some situations it could nevertheless seem sensible to get ready to cover down or from the loans if they arrived on the scene of deferment, during my situation I experienced greater economic priorities.
I Experienced Greater Financial Priorities
I will divide my training that is seven-year period three parts: my postbac fellowship, my first couple of years in grad college, and my final four years in grad college (when I got hitched).