I have a question?

[Agent_Zero]

So I have 5000 dollars in student loans that I have to start paying back in a couple of months. Oks, so my question is what if I take a class at a community college. Would I still have to start paying those loans back since I would be getting an education? I'm not trying to skip out on my loans, I'm just thinking 16 weeks for one class is only 330 dollars. So that's 8 paychecks I could use to knock down the principle of my loan. What do people think can I do that or would I have to start paying back the loans anyway?

[trix_r_4_kids]

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@jetlife_reeves wrote:

So I have 5000 dollars in student loans that I have to start paying back in a couple of months. Oks, so my question is what if I take a class at a community college. Would I still have to start paying those loans back since I would be getting an education? I'm not trying to skip out on my loans, I'm just thinking 16 weeks for one class is only 330 dollars. So that's 8 paychecks I could use to knock down the principle of my loan. What do people think can I do that or would I have to start paying back the loans anyway?

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It sounds like you might be interested in deferring your loan payments.  You would have to be enrolled at least half-time to qualify for the deferral.  One class is not half-time.

As someone who really screwed up my student loans after I graduated, I would recommend paying them off as soon as possible.  If money is tight, you might qualify for an income based repayment.  I'd check this out first if I were you.  Whatever you do, don't mess with student loans!

(*edited to fix a typo)

[Agent_Zero]

Oks thank you. So if I went halftime then I would be able to. If I deferred my loans would it be worth it, or should I just start paying it off now.

[SCF]

What type of loans are they?  Subsidized federal loans will have their interest paid while in deferment, but unsubsidized loans will continue to accrue interest.  That means that with unsub loans, the best way to save money is to pay as much as you can as soon as you can to reduce the total interest paid.

Only take those classes if they will benefit you, if not, just apply what you would have paid toward tuition to the loan and work on getting yourself debt free.