PhD Student: Pay off subsidized student loans or invest while in school

[MusicianMustache]

Life Situation: Single, 22 years old, midwestern city, musician/PhD student, I use YNAB
Networth: Approximately -$30,000

Monthly Salary/Wages: $2466
Monthly Take Home: $1993

Current Monthly Spending: $1012
Rent: $320 (I live with two roommates)
Utilities: ~$70-100
Groceries: $250
Gas: $80
Car Insurance: $96
Credit Card Debt: $91
     - CC #1 $30 ($630 at 0% )
     - CC #2 $61 ($2118 at 24%)
Other: $75


Assets: $800 and 2012 Ford Fiesta (Paid off, worth about $3,300)

Liabilities:
     - CC #1 ($630 at 0%)
     - CC #2 ($2118 at 24%)
     - Student loans from undergraduate degree ($34,173 at ~4%) all subsidized Stafford loans


I am a church organist making about $30,000 by working on weekends and a full time tuition-free Phd student. I have 5-6 years of school ahead of me. (Please don't tell me to switch careers or drop out of school!). My first priority is to pay off my credit card debt. After that should I start investing in IRA/403b while my loans are deferred without interest or should I pay off my student loans while still in school? Also any general advice is welcome as well.

[Fire2025]

I would definitely use your deferred timeframe to invest.

4% is in that window where it makes sense to hold the loan and not pay extra, unless you really really want to be debt free, that's a question only you can answer.

My student loan is at 4% and I'm happy to pay it a little at a time, so I can invest, invest, invest.

[MDM]

My first priority is to pay off my credit card debt. After that should I start investing in IRA/403b while my loans are deferred without interest or should I pay off my student loans while still in school? Also any general advice is welcome as well.

Good first priority!

See Investment Order for general suggestions.  It will confirm your first priority (assuming you are happy with your emergency fund).

Take a look at your Marginal tax saving rate (you can probably use the case study spreadsheet) for traditional contributions to inform your Traditional versus Roth choice.  As a full time student you are ineligible for the saver's credit, so offhand I'd guess Roth will be preferable - but do check.