I’m 26, and currently gross 50k a year. I recently graduated from college… and I have $21k in student loan debt. I am still living at home, and was planning on moving out in a few months. Would it be best to pay off the student loan debt in full before moving?
We spotted this post from Reddit user chris0111110, and we’re curious to hear what you’d recommend.
This is a crossroads many people in their twenties run into after finishing college and trying to plot a sensible next step.
For earlier generations, landing a job, moving out and starting a family often followed graduation smoothly. But a growing number of young adults are saddled with student loan balances far beyond what they anticipated.
That reality can alter the plan considerably.
Replies tochris0111110’s questionvary widely, and there isn’t a one-size-fits-all solution.
- Are you comfortable staying in your parents’ home through your twenties to aggressively knock down your loans?
- Or would you rather take on the debt load in order to gain independence and stop depending on your family?
When deciding, consider factors like interest rates, your emergency savings, job stability, and how much you’ll need to cover rent and living costs once you move. If you want tips on trimming housing expenses, check out how to save money on rent.
If you’re still in school or recently graduated, don’t forget to look into discounts and deals that could stretch your budget — for example, here’s a handy guide to student discounts every college student know.
Your turn: Share your perspective and any personal experiences in the comments below — we’d love to learn how you’d handle this situation.
Content formerly published under another byline has been adapted for Savinly.
