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

By Adam LevyUpdated Sep 10, 2024 at 2:49 PM

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.

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