Should I Pay Off Unsubsidized Loans While In School?

[Painful Fart]

So, some context is needed to fully understand the question:

• I am currently in a 1-year engineering graduate program (Biomedical Engineering)
• I am currently working part time at my university (~$200/2 weeks)
• My salary might change because Spring semester schedules might have more/less availability
• I am currently renting an apartment with my SO in Buffalo, NY (~$824 including utilities)
  • She has a position to work at the complex which reduces our rent to $0/month
  • There was a falling out between one of the supervisors and her schedule to super packed so she is planning to quit by the end of December.
  • I am debating on taking the position because it will pay for our rent

• I have ~$27,3K student loans
  
  • Subsidized loans
  • $3.5K    @4.290%
  • $3.5K    @3.760%
  • $3,360  @4.450%
  • $2,140  @4.450%
  • $4,622  @5.050%
  • Unsubsidized loan
  • $10,442.81 @6.080%
  • I have saved up money from jobs ~$15.5K in an online savings bank with an APY of 1.7%
  
  My question now is should I fully pay off the unsubsidized loan with my savings right now to avoid any more interest accrued on it? I would still have ~$5K left over which would cover the rest of the year’s ~$2.9k rent.
  

[MDM]

I would wait until graduating and getting a good paying job, at which point the extra interest will be negligible in your overall finances. 

But a case can also be made to pay the loans if the money would otherwise sit in a bank. 

With a hazy crystal ball, there's no way to tell whether the extra liquidity you would have by not paying off the loans will be useful in the next few years - but it might.

[Ready2Save27]

If you have a good emergency fund or support available if things went bad, I’d pay off part or all of the loan. You are essentially getting a guaranteed 6% return on your investment. But if you aren’t comfortable only having $5k in the bank, then it won’t ruin your financial situation if you wait a little to pay it off.

Have you considered other part-time work/online work to supplement your income (though be careful this doesn’t take away from your studies/relationship)

[Painful Fart]

I would wait until graduating and getting a good paying job, at which point the extra interest will be negligible in your overall finances. 

But a case can also be made to pay the loans if the money would otherwise sit in a bank. 

With a hazy crystal ball, there's no way to tell whether the extra liquidity you would have by not paying off the loans will be useful in the next few years - but it might.

I'm currently in the mentality to just wait until graduating and getting a job to pay it off. However, so far, the job application process is a pain in the ass. Constant no replies and genetic rejection letters.

When I stop and think about my loans, I get pretty anxious but I guess that's only natural.

[Painful Fart]

If you have a good emergency fund or support available if things went bad, I’d pay off part or all of the loan. You are essentially getting a guaranteed 6% return on your investment. But if you aren’t comfortable only having $5k in the bank, then it won’t ruin your financial situation if you wait a little to pay it off.

Have you considered other part-time work/online work to supplement your income (though be careful this doesn’t take away from your studies/relationship)

I'm not terrible fond of only have $5K in the bank but I not exactly fond of my loans either haha. Stalemate.

I have considered other jobs (especially in my field but the application process is poop). The other issue is my lack of reliable transportation.