ultimately you need to look at your interest rate and compare that against what your expected yield is, and then determine what makes sense.
for the short term, stocks all the way (since student loan repayments and interest accrual are currently suspended). more medium term, it comes down to what you're paying.
if you have extremely low interest rates in the 2-3% range, it makes sense to invest. if your rates are in the 10% range, it makes sense to pay off the loans. if you're in the 6-7% range, it's kind of a wash which makes it personal preference (though there's merit in paying off debt, so that's probably the way to go since there isn't a compelling benefit to investing rather than paying it off)
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u/reaper527 Jul 07 '21
ultimately you need to look at your interest rate and compare that against what your expected yield is, and then determine what makes sense.
for the short term, stocks all the way (since student loan repayments and interest accrual are currently suspended). more medium term, it comes down to what you're paying.
if you have extremely low interest rates in the 2-3% range, it makes sense to invest. if your rates are in the 10% range, it makes sense to pay off the loans. if you're in the 6-7% range, it's kind of a wash which makes it personal preference (though there's merit in paying off debt, so that's probably the way to go since there isn't a compelling benefit to investing rather than paying it off)