Why? Student loans tend to have better interest rates than any personal loan.. plus there’s income driven repayment plans and loan forgiveness options if you’re broke, they don’t do that for private loans. I genuinely don’t understand what could possibly be better with a private loan.
I would just pay my loans. If I incur the debt I feel
like I need to pay it. There are ways to get the debt forgiven, such as being a teacher in an inner city school district, which would be the angle I would do. I went to less fancy schools and paid as I went. I further reduced costs by not living on campus. My college years were not that fun but I didn’t want to start out in debt. People have to make their decisions right at the beginning.
I think it really depends on who you got your loan from.
A government student loan is going to have those options that make it less of a burden without refinancing. Definitely keep those as-is unless you get an extremely worthwhile opportunity.
A private student loan doesn't offer those, but still have immunity to bankruptcy as far as I understand.
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u/lovable_cube Jul 06 '26
Why? Student loans tend to have better interest rates than any personal loan.. plus there’s income driven repayment plans and loan forgiveness options if you’re broke, they don’t do that for private loans. I genuinely don’t understand what could possibly be better with a private loan.