I'm about to empty my bank acct and drop $20k to slay my student loans

[cobra]

When Bernie forgives student loans next year

you gonna be

 

[Originalman]

I didnt know that was an option?

This isnt an old debt. It just entered repayment recently

As far as I know you can't negotiate them down unless they are in default.

Student loans are loans in which can't be filed in bankruptcy so a lender has no reason to let you negotiate unless you are in default or near defaulting.

If it a federal loan there is no way in hell they let you negotiate. A private student loan it might be possible but I doubt it as well.

 

[Originalman]

OP try contacting folks like lendkey they will refinance your loan at much lower interest rates such as great lakes and sallie mae

 

[livindajetlife]

Lemme borrow a g

 

[CrimsonTider]

Keep the cash

don’t do it

 

[Mr Rager]

Your car could break down tomorrow, or any number of factors that would require some chips to take care of.
Rob Peter to pay Paul, brehs (you're Peter here)
Pay yourself first, and let that greedy bih Sally Mae get the rest
While paying a lump sum is a great idea, I wouldn't go for broke over student loans.

 

[FLATOP]

I dropped 10k instead. I'll pay off the rest next month for my birthday.

Thanks for the advice yall

 

[Geode]

If you truly have no other debt, then knock 'em out. If you have the money to do that chances are there's more where that came from and quickly. Otherwise pay a chunk down or up the monthly payments to keep more cash in the bank.

 

[Astroslik]

Idk why you won’t wait until they possibly forgive student loans. Also like others said at least negotiate.

This is the worst advice you can give someone.

Student loans aren’t being forgiven.

 

[Consigliere]

I dropped 10k instead. I'll pay off the rest next month for my birthday.

Thanks for the advice yall

Good move. Cash is king. You could buy some stocks that pay dividends and make more than your debt service on the loan.

 

[Sad Bunny]

Your car could break down tomorrow, or any number of factors that would require some chips to take care of.
Rob Peter to pay Paul, brehs (you're Peter here)
Pay yourself first, and let that greedy bih Sally Mae get the rest
While paying a lump sum is a great idea, I wouldn't go for broke over student loans.

Student loans are the only thing that they can't get rid of if you claim bankruptcy so it just depends on his overall situation but if he lives at home and has a stable job and he's fairly young paying off student loans is always the best bet.

 

[Sad Bunny]

This is the worst advice you can give someone.

Student loans aren’t being forgiven.

And people are talking about negotiate you can't fukking negotiate student loans you just graduated what the hell is he going to negotiate LOL

 

[Astroslik]

And people are talking about negotiate you can't fukking negotiate student loans you just graduated what the hell is he going to negotiate LOL

You can negotiate if you default or if you have a private loan (certain companies will do it).

 

[mannyrs13]

You better put sumthin on it.

Thats right. OP should learn from @benjamin and when they call him up be like "What you gonna do? Repo my degree? "

 

[Software]

I dropped 10k instead. I'll pay off the rest next month for my birthday.

Thanks for the advice yall

Bruh what's the difference between this month and next month? Put 19k down save the $1000 in case something happens. Then save all your money next month and start building 6 months worth of expenses