Need advice: student loan repayment
Hello all… looking for some advice, as I have read multiple articles all with conflicting advice.
Details: I currently have ~22,000CAD worth of student debt with a low interest rate (~6%).
- I have no other debt and am currently still living with parents while working fulltime (I just graduated last year and am aiming to move out next summer).
- I can afford to repay my student loan in full, however will not have much saving left after doing so
I am debating between making the minimum payments for the next 5 years, or completely paying it off now and begin to save again for my move. I want to have the debt paid off by the time I move out, so that what I am currently paying each month can be put towards rent.
Any opinions or thoughts would be greatly appreciated.
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