How to Invest While Paying Off Student Loans

While common financial advice is to pay off debts as soon as possible, you may want to reconsider that when it comes to student loans.

Invest While Paying Off Student Loans

The general rule of thumb is that you should have between three to six months of living expenses saved up for financial emergencies.

Start with an Emergency Fund

Remember to always make your minimum payments, and make them on time. To make it easier, sign up for automatic payments with your loan holder.

Prioritize Minimum Payments

When you refinance your student loans, you take out a new loan—usually through a new lender—with a new interest rate and new loan terms.

Refinance Your Student Loans

Employers who offer 401(k) plans will match your contributions up to a certain dollar amount or percentage.

Take Advantage of Employer-Sponsored Retirement Plans

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