Which is more important?

iVillage Member
Registered: 04-10-2003
Which is more important?
2
Mon, 03-09-2009 - 1:51pm

I am just full of questions today!


I have approximately $32,000.00 in student loans. My father is paying them off for me (he put my sister through school and bought her a car and so the arrangement was he would pay off my student loans - I never asked for his help, he offered). At the time he thought he would be able to put a lump sum payment on them and take care of them. Unfortunately with the markets tanking thats not possible so he took over the monthly payment for me.


On paper I owe $32,000.00. It is divided between a $27,000 loan and a $5000 loan. Each month my dad gives me $500, $422 to the big one and $78 to the small one.


BF and I may be buying a house together (depending on where work takes us). At this point all possibilities are on the table including getting a mortgage together.


Bex -

iVillage Member
Registered: 10-28-2006
Mon, 03-09-2009 - 2:00pm

I've always heard that student loan debt is looked upon as a good debt. I would think as long as the payments are current it wouldn't be a problem. I would put all the money I could into savings.


Just my two cents.


iVillage Member
Registered: 08-22-2008
Mon, 03-09-2009 - 2:04pm
Run some mortgage calculators.