If I want to pay more than the minimum payments on my student loans right out of college, what would be good percentage of my income to pay?

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Posted by Penelope Leach (MONEY FORUMS: 1, Answers: 0)
Asked on May 2, 2016 9:34 pm
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If your payments are under 10% of your income, then you could comfortably move up to 10%. To answer that question in any more detail would require knowing if you a)have emergency savings b)are putting away retirement savings and c) are you living well below your income level (like living at home). If you have emergency savings (3-6 months of living expenses saved), and are saving towards retirement to maximize any employer matching, and still have extra funds available, then you could/should put more toward your loans.

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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: May 3, 2016 5:58 pm