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Student Loan vs. Auto Loan: Which Should I Pay Off First?

By Adam Levy – Updated Sep 10, 2024 at 2:49PM

Key Points

  • Pay down auto loans first due to lack of forbearance options and potential vehicle repossession.
  • Federal student loans offer income-based payments and possible loan forgiveness.
  • Interest on student loans may be tax deductible, adding a financial benefit.
Key findings are powered by ChatGPT and based solely off the content from this article. Findings are reviewed by our editorial team. The author and editors take ultimate responsibility for the content.

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