$140,000 in student debt here. Much more than that in property equity. Mine was in many areas of finance including financial planning. What most people do not know or seem to realize is student loan payments do not have to be paid back for at least 9 years while remaining in good standing. They give 3 three year forbearances-1 for if one did not find employment or underemployment in the job they were expecting, another 1 for similar financial hardship if their salary is under a certain threshold, and another 3 years for any no particular reason if requested. They remain in good standing on credit reports. This is on top of the several year Covid forgiveneses and current administration.
Most people do not understand or know constructive verses destructive debt. With school loans being 6% interest or less, I have no idea why anyone would first pay them off when the funds could be used to acquire investments making many times over 6%. At least 25% and some investors I know locally making up to 1000% per year. Its a very David Ramsey mindset which has no place for those who understand investment.
Moreover, even if someone was not an investor, I feel its best to not pay any payments towards them at all for as many years as possible. For reason that salaries typically double or triple 10 years into ones career path. Of course this is Not what they teach in formal finance school education. Incorrectly.
