Originally Posted by birdie
...that student loan is probably typical fir many these days. You will enjoy promotions and bonuses in the future, use a significant part of those to get rid of debt., but enjoy yourself too, you have earned it.
Most of my friends have similar student loans, a few were lucky to have family in the industry to hire them for internships and they exited with less loans.
I could save more but I like going places, this year I volunteered in Honduras for 11 days (which doubled as a deductible charitable contribution!!) and with all the travel I do for work I get points and I just purchased my $7.50 ticket to Puerto Rico!
I'm going for two weeks of language immersion school. I really want to learn Spanish and if I like this I think I'll go to another language school in a cheaper country for a 12-16 week course.
Originally Posted by Animorph
I run with the higher risk crowd. Consider paying off the 6.55% loan . String the 2.1% loan out as long as possible. You only get a limited opportunity to contribute to your 401k (and Roth IRA!) each year. No "rollover" contributions if you didn't fill it up last year. With a reasonable loan rate, you have a chance to do better by investing instead of paying it off. And that's before investing pre-tax in a 401k. So I'd feel very comfortable investing in the 401k and making minimum payments on the lower rate loans. Your comfort level may vary.
The 12k FU fund gives me a feeling of security as I know I can make it last at least 6 months if things should go bad so I'm pretty comfortable with investing instead of paying down debts. That 6.55% really irritates me, especially when I get 0% for 18 month credit card promotions! But the student loan interest is and above the line deduction which helps a little.
I haven't decided if I'll contribute to a Roth IRA for 2013 or not, I can still put that decision off for a few months.