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Student loans pushed back AGAIN! Does this change my plan?

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  • Student loans pushed back AGAIN! Does this change my plan?

    First year attending here. 220k in federal debt at 6.8%. I have saved about $180,000 this year to put toward that debt. I am a 1099 doc with a recently created solo401k.
    I have put no money in the 401k for 2021 because I was planning to pay down this student debt, but with the recent interest accrual stoppage pushed back to May1( and lets be honest, its political suicide to become the tax collector for a prior administration's relief plan).

    Should I put money into my solo401k and let this repayment moratorium play out? I'm 33 years old and this will be the first retirement money I have had the chance to put aside. I had a plan and feel like the goal line keeps moving. I'd love to hear your thoughts and advice.
    Thank you everyone!

  • #2
    I would put the max allowable into the 401k even before the SL debt


    • #3
      Man; those in PSLF must be loving this. 3 years of time for free.


      • #4
        I think it was a mistake to build that much in cash. I would max out all retirement accounts always and then pay off student loans. During moratorium just chuck it in taxable if you must


        • #5
          I love this.


          • #6
            Pay yourself first (put money into your retirement account) and then pay down those student loans as soon as you can.
            Helping student loan borrowers manage their student loans. [email protected]