|
Registered
Join Date: Apr 2013
Location: Nevada City, Ca
Posts: 2,262
|
Student loan question
To those that might offer advice. My son is a first year Anesthesiologist and making really good money. He has a student loan that’s around $300-350,000. He received a sign on bonus of $120,00 that became $75,000 after taxes. He has been paying $5000 a month that has an interest rate of 7%. Should he pay down his loan as fast as he can or should he take some of that money and invest in a house or apartments. He is currently renting. My advice is to pay his loan off as fast as possible or refinance the loan to around 2.5%. He would need to put up 20% to get the loan. He has $200,000 in the bank. He is just trying to figure out the best strategy.
|