• Pay off huge student loan debt vs save for down payment?

  Filed under Student Loan Debt
  Feb 11
  

  C W asked:
  
  
  I will graduate in December with about $100K in student loans. Would like to buy my first home in the next 2 years. My projected gross income is $85K. Should I save for down payment? Pay a big chunk of student loans? A little of both? I have zero credit card debt and no car payment. Thanks in advance!
  
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  1 Comment

One Response to “Pay off huge student loan debt vs save for down payment?”

1. 

   wjshintx said on February 14th, 2009 at 3:24 am

   Online Yoga for Everyone

   Do a little of both. Susie Orman says you should never miss a student loan payment under any circumstances, that is worse than missing a credit card payment. So, make your student loan payments on time and save as much as possible for a down payment. The more you put down on a home the better. The more you have for a down payment will make it easier to get a loan, will get you lower payments, and lower interest rate. Also, make sure you have a retirement plan.

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