Originally Posted by feitr
Why even bother trying to pay it off if it is an interest free student loan? You do realise that $1200 is $25/month over 4 years? $1600 for house >1 year away shouldn't be much of a problem ($100/month).
I'd just keep everything in your poker account, withdraw whatever you need to get by month-to-month, withdraw $1600 or whatever next year, then worry about your student loan in a couple of years. Option 2 is fine as well, i just don't see the hurry to pay off a debt that is a free loan 4 years away, unless you are really concerned you might go busto in poker or sometihng.
Depends on your overall goal for poker as well. If you have no net money considering debts and assets at this stage, then i don't think you should really be going over 100nl anyways. Maybe grind nl50, play nl100 and keep your roll at 5k then withdraw excess until you are in a more comfortable situation and could consider moving up (ie. no debt, and more than $200 in the bank).
Pay off the debt now.!
This is, theoretically, good advice. He has an interest free loan and a banker's advise would be to make use of that.
However. He has the money available now.
If were to pay the loan off now, it would take only a couple of months to restore his BR, we know this because its only taken a couple of months to build it.
The problem with not taking care of the debt now is that noone can predict the future. What if something that we cannot even begin to predict changes in the next 6 months? The debt will rise and he will wish that he had paid it of whilst he had the change.
This is why I said its a good idea in theory, because in practice, the reality is virtually every ex-student I know has debts higher than they expected, a job that pays less than they were led to believe and a repayment rate that is higher than they thought the signed up to.
Why gamble.. noone here sees themselves as a gambler, but the only certainty here is that he has the money now, why gamble that he will achieve $1000 a month whilst a debt exists?