I have the ability to pay off my student loans completely now and be done with it. It would almost completely wipe out my savings, but I would be debt free. Also I would save about $8,000 in the 20 years if I paid it off in full now. Just asking for feedback.
I hear three main theories from friends/family.
1. Keep paying the loans as is because it will show a good credit history, and it's very important to have savings in the bank.
2. Pay them off because you never know what will happen in the future and no debt is good debt.
3. Pay off extra each month. That way there's credit history and also savings on interest and in the bank.
The hospital I work for does not offer loan repayment contracts. So that option is out. And I'm financially lucky enough where I don't qualify for almost all loan forgiveness/help from third parties. What do you all think? Any feedback?