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Re:The Five Biggest Myths About Saving Money, According to a... by sp332 on Thursday November 12, 2015 @02:24PM (#10555468)
Did he say you can pay off college loans in three years?
Re:The Five Biggest Myths About Saving Money, According to a... by zwerdlds on Thursday November 12, 2015 @02:34PM (#10555523)
No, he said that you shouldn't worry about paying them for the first three years - presumably because this is the period of time for which all student loans can be deferred due to unemployment in the United States.

https://studentaid.ed.gov/sa/repay-loans/deferment-forbearan...

Re:The Five Biggest Myths About Saving Money, According to a... by crpatino on Thursday November 12, 2015 @05:02PM (#10556461)
What kind of interest do you pay in the US for student loans, anyways?

Completely forgetting about your credit card debt, or even your mortgage, for any extended period of time sounds like an amazingly stupid decision. Ignore compound interest at your own peril.

Re:The Five Biggest Myths About Saving Money, According to a... by zwerdlds on Friday November 13, 2015 @11:44AM (#10560748)
Typical rates are between 4 and 7 percent.

Agreed about the issue of compound interest, but everyone's case is different. I think that's all he's saying: "Take the time to be unemployed and figure out what you want to do. Three years of CI is less important than knowing what you want to spend your life making money at."

Now one might argue that this decision should be made prior to going to university in the first place...

Re:The Five Biggest Myths About Saving Money, According to a... by pilom on Thursday November 12, 2015 @02:54PM (#10555648)
Are you surprised by this? Median student loan debt of graduates is around $15k. Is it really that hard to expect some people to prioritize their debt to the tune of $6k/year?
Re:The Five Biggest Myths About Saving Money, According to a... by sp332 on Thursday November 12, 2015 @03:02PM (#10555693)
My student loans were about 3x that, and since the interest rates were relatively low, I never prioritized them. It's been about 7 years and I'm still paying a couple of them. Really any of my other debts would be more profitable targets.
Re:The Five Biggest Myths About Saving Money, According to a... by SimpleXYZ on Thursday November 12, 2015 @03:10PM (#10555760)
What's your source on $15k?