>got $6k in student loans >school fully paid already >community college, live with parents, work part time Should I invest it or just give it back? Don't feel like laying $30 a month in interest. Have it in a HYSA but still
>>62174499The only question you should be asking is "Can I use this money to generate more than I am paying in interest?" If the answer is no then pay it back, if the answer is yes then keep the loan open for as long as possible.
>>62174548That's what I want to do but I don't know anything about investing beyond looking at stock price charts a bit. If the economy doesn't tank then it seems like I'd be guaranteed to make more than the interest right? The interest rate is 6%
>>62174499depends what the interest is and what returns you expect from investing $6k instead. Anytime in the last 6-7 years you would have been better off just investing it
>>62174563Is it theoretically possible to make more than 6%? of course. Are YOU likely to achieve this? Well if the market doesn't dump like its been threatening to then yes but in these uncertain times you could wake up and see that your 6k has dropped to 4800 overnight. Are you disciplined and smart enough to know what to do next? Or will you most likely panic sell.
>>62174687if the market reacts that poorly theres a good chance fed actions will inflate away the loan anyway
>>62174723What do you mean by inflate away?
>>62174730if your loan interest is like 5% but inflation goes above that then technically it's losing value anyways. Happened during covid
