Federal Loans with Nelnet - Pay on while in college?

[xgac12x]

Right now I am just paying the interest off on my unsubsidized, not making any principle payments. I am graduating in the Spring of 2017. I am paying on a credit card ($165 a month, will be paid off in September), now after that is paid off should I save that money, and instead of paying my credit card, put it in a savings account, or should I put that towards my student loans? I think that $165 a month while in school is somewhat aggressive. I also work for a company that does Tuition reimbursement up to $5,500 a year so that will also help put a dent in my loan balances..Thoughts? Its at 4.66% right now

[InvincibleSummer3]

$165 might not be that aggressive, depending on the total loan amount. But saving it can't hurt - then you could pursue tuition reimbursement first, and use the savings toward whatever's left.

[Anonymous]

I am not sure how tuition reimbursement works but it sounds like they will pay off $5,500/year you work for the company?

If so, I guess you should weigh financial security and relief of paying all your loans. I read extensively when in college about saving vs paying off student loans and there's different options depending on your goal... I would say you should have a emergency fund of at least 6 months of monthly expenses saved before focusing on paying your deferred student loans. 

$165 is not that much but depends on your total student loan amount. I really wanted to pay off my student loans in college and paid off all but $6,000/$29,000 when I graduated.

Pat yourself on the back for starting to think about your student loans while still in college! Some friends I knew ignored interest on unsubsidized loans and it was capitalized when they graduated making their interest payments larger...

Edit: If you decide to save your money, I suggest a Roth IRA if you currently have a job... Returns are probably higher than 4.66% and the gains are not taxed since you contribute with income that's already been taxed. Vanguard has some good mutual funds with low expense rates and no monthly maintenance fees with paperless statements.