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FLAOrthoPT -> Re: Paying off debts (May 27, 2004 2:03:00 PM)
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I owe the gov't just about 100K as well. However, I own a house, a nice car, and have some property investments. The interest rates are at such a low that you can hold on to that debt for 30 years, pay it off very slowly, and deduct a good chunk of that interest off your taxes. So it is almost free money....use it wisely. So instead of buying a car and borrowing 10K at 9%, you'll have more cash on hand and only need to borrow half of that, so you end up not borrowing money at higher interest. Pay off all of your high debt first, credit cards, cars, etc. Then put a big down payment on a place, now if one day you have a huge chunk of money, sure pay it off, but until then, keep it, invest it, and you'll be the wiser. PT school is rather expensive considering you'll only make like 45 coming out of school. however, it is a profession, so you'll never be out of work, you can always be autonomous, and you can really earn potentially as much as you want. So overall I think school is a bit too expensive, but not many other jobs can give you such a sure future ahead of you-
Good luck
Low interest debt rules
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