Past Due: Radio 153 – Wrestling With Graduate School Loans, Investing
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Paul and Kristina in Morrisville, NC wrote in a question about balancing the repayment of Paul’s grad school loan with their goal of buying a house. Since getting married, they’ve managed money very wisely in order to make it through Paul’s grad school program without incurring any additional debt and depleting their savings.
In just a matter of weeks, they’ll experience a quadrupling of their income when Paul begins his new job. But that new income isn’t alone; there is $81,000 in student loans to repay. They would also like to begin saving for a $40,000 down payment on a house.
Today we covered the importance of focused intensity toward goals, the risks associated with interest rates and bringing student loan debt into the home-buying process, and how paying off debt and building a down payment are actually forms of investing in our financial plans.
If you have a specific question, I’d be happy to answer it and further cultivate the wisdom of the Past Due Radio masses. The experiences of our listener base provide plenty of insight we all can learn from; don’t hesitate to ask – I’m happy to help!