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Registered: ‎08-12-2011
Re: Pay off full student loan balance ($4.2k), or continue to make $480 payment per month?
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The tax deduction you will get for the interest will not offset actual interest incurred. I also think you are close to or already in the salary range where not 100% of the interest is deductible anyway, only a certain percentage. The accounts in good standing will continue to report 10 years from close date. You will have plenty of time to create other good tradelines before they fall off. At the interest rates your loans are at, you are better off paying them off in full and starting some diversified investments. 


Re: Is it only beneficial when you have other higher priority loans/expenses, and pay less on the student loans because they usually have lower APRs?


In general, yes. Sometimes you might pay off or save for other loans that don't have deferment or forbearance options. Most of the time you want to pay off highest interest rates first.