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Originally Posted by SpecialK12
It's funny that this thread came up as I have been thinking about doing the same thing. I have student loans with the federal gov, alberta gov and b.c gov (just started repaying this month - the min. amount on each). My husband has one with the federal gov - i was thinking it was silly to be putting the minimum amount down on four seperate loans. I guess this isn't necessarily the case??
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I'm no financial planner, in fact, I think my knowledge in the financial area pales in comparison to many on this site, however, I am (unfortunately?) fairly fluent with student loans.
You get a decent interest rate so you're not getting it handed to you there, and any interest you pay is considered tax-deductible ... if you have other debt, (credit card, LOC, car, anything) I'd say it's advisable to worry about increasing payments there rather than student loans.
That being said, when I graduated two years ago, I had a minimum loan payment of $323 monthly, I told them to just round it up to $350, which they calculated would take 8 months (!!!) off of the nine year repayment schedule ...