student loan account
Should I be saving my money in a savings account or paying off my student loan that is only about $60 a month.?
I would like to buy a house in the next year and would like to know what to do. The savings account gives me around 2% a yr in interest. I also like investing in people to people loans at 9% interest. I would like to know what to do.
What is the interest rate on your student loan? If it is real low, just keep making the payment on it as $60 a mo is not much.
I would save your money for the house.
Also, be careful with peer to peer lending, a lot of people who lent on Prosper are having huge numbers default on them. If you are with Lending Club you might fare better, as their guidelines to give a loan aren’t as lax as Prosper was. Prosper by the way is not taking on new lenders or loans. They are in a quiet period now. Just be wise about who you give a loan to, and make sure you minimize your risk.
Rep. Hansen Clarke: Let’s Reduce Student Loan Debt
