- Joined
- Jan 20, 2013
- Messages
- 121
- Reaction score
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My understanding is interest will start accruing again September 2023 and first payment is due again October. I have kept a big chunk set aside for this moment and am planning on pulling the trigger within the next few weeks...unless...
Unless..... one of the financially savvy people here has a good reason why I should allocate it somewhere else?
Info:
203k left on loan
monthly payment set to be: $320
Interest rate: 6%
My employer reimburses 20k per year for 2 more years.
I have 205k sitting in a bank ready to nuke the loan
85k in a high yield savings account (5%)
130k in taxable brokerage account
My thoughts: Use 160k of savings to Knock the loan down to 43k. Let the interest accrue on that and let my employer reimburse me for the rest over the next 2 years.
What do you think, wise plan?
Unless..... one of the financially savvy people here has a good reason why I should allocate it somewhere else?
Info:
203k left on loan
monthly payment set to be: $320
Interest rate: 6%
My employer reimburses 20k per year for 2 more years.
I have 205k sitting in a bank ready to nuke the loan
85k in a high yield savings account (5%)
130k in taxable brokerage account
My thoughts: Use 160k of savings to Knock the loan down to 43k. Let the interest accrue on that and let my employer reimburse me for the rest over the next 2 years.
What do you think, wise plan?