student loan advice

Is it better to pay off student loans quickly?

should i pay off my student loans quickly?

Stefani from Philly asks: I’m graduating this June and I’m going to have about $40,000 in student loan debt. I want to pay off my student loans as quickly as I can even if it means sharing a room with someone else. I’m planning to take at least 50% of my pay check to go into repaying the student loans. This will come out to about $1000 per month, which allows me to pay off my loans in about 3 years. I’m normally a saver anyway and I can live cheaply if I have to. I would have just enough money left over for rent and living expenses. My rent would only be about $500 dollars per month. Plus, I have savings right now that would work as my emergency fund just like Dave Ramsey suggest. Is it better to pay off my student loans quickly? My thought is that it would save me on interest even though it would be hard for a few years, but I will be much better off in the long run. Any suggestions?

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