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Is it allowed, and is there a benefit to using new studet loans to pay off the oldest ones?

I am in graduate school, and the student loans are piling on. I notices some of the older, unsubsidized loans are starting to accumulate interest. I wonder if it would be wise to use my refunds to pay off these older student loans? #graduate-school #doctorate-degree #student-counseling #student-affairs

graduate-school doctorate-degree student-counseling student-affairs
Thank you comment icon Ginna, It can be daunting but student loans are something that you have to look at with an objective lens. You want to lay out the parameters of your loans -- look at the principal, interest rates, subsidized/unsubsidized, etc. And then start attacking the unsubsidized highest interest rate ones first. And while the rates are relatively low, I'd look to consolidate as much as you can under a low fixed rate so that you can predict how much cash you'd have to generate each month to address it. Also, I'd keep an eye on any government or employer programs that either pay off all or portion of your debt with certain years of service. I know many folks who do Teach for America or go through employer led programs to get significant portions of their student loans forgiven. I hope that helps and good luck! David Huh
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suraj’s Answer

One thing we can all agree on: paying off student loan debt isn’t fun.


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Here’s our guide to paying off student loans faster with strategies that will work for just about anyone.
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