I'm prepping a proper case study in between my homework, but I have a more pressing question.
I'm enrolled as a first year grad student for city and regional planning at Cornell, and I've had to pay for this with loans. I already have a hair-on-fire credit card situation that I'm getting under control, so I have the following debt situation:
Credit Card: $13,988, 15.99%
Unsubsidized Stafford Loan: $10,302, 5.84%
Graduate PLUS Loan: $6,641, 6.84%
For the question: does it make sense to pay down the interest as it accrues on the two student loans while I still have this credit card debt, or should I leave the student loan debt alone until the credit card is paid off? Or does it depend on income?
As I said, a proper case study will come eventually, but it might be a few weeks, and an answer will be more important sooner rather than later.