Pause Debt Snowball To Pay Off Student Loan First?

Jonathan has been able to settle with his lender on his student loan debt and asks Dave if it's ok to pause his debt snowball to save up and pay that off first.

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[michaeljuliano]

You know it’s a good question when Dave doesn’t have to rehash the baby steps.

[TheToadChild]

Dude is making $150k with his bonus and his student loan was in collections?

[Husker]

We did something similar years ago and there was a stipulation on the 1099 taxable income. If you're net worth is below zero then the money was tax exempt.
I can't remember the numbers, but we had something like a $7k tax bill due to a settlement on debt and it was all wiped out because our total net worth was still negative at the time. The one time being broke was a blessing. hah

[AQJ_DK]

Why in the world didn’t he pay his student loans if he’s making 140k...

[jimpalace]

Happiest day of my life was when I kicked Navient (Sallie Mae in a Scooby-Doo villain mask) to the curb. Glad someone else was able to get out from under.

[Jerrond]

He can finish the payoff in January of the next tax year. That way, he gets that 1099 the following tax year so he has more time to stack money for the tax man.

[DisabilityExams]

Do you think Dave would be so pleased to get paid $13, 000 as payment for a $139, 000 loan??

[classicredwine]

I didn’t even know that Navient accepted settlements

[omgitsyelhsa]

Federal Loans that are settled also give a 1099. Don’t be fooled. It’s all taxable.

[Angelo-uogj]

Am I missing something here? How does $13, 000 cover his student loans?

[cieoflove]

I have a question
If you completed your debit snowball
And now have a student loan but the student loan acquired interest and now that large interest needs to be paid before you can double up on payments to pay off the loan sooner how should I go about this?
I was looking to bundle up some money to pay the interest off in one lump sum to then make larger principal payments The company is being extremely aggressive and I don’t know how to address them.

[vladamirkb]

When i borrow money i pay it ALL back.I don't borrow money i can't pay back.

[shauntriceanee]

Is it a good idea to have your wages garnished for a student loan?

[PolyMazda]

Just pay off whichever loan costs you the most per month first. In reality we live life by monthly bills.

[RealLifeMoney]

Whoa settle student loan debt? Didn’t even know you could do that. Wonder how that works. But good for him! Sucks it’s taxed 🤷🏻‍♂️

[IamtheGL]

Inb4 mike meru attempts to settle his student loans

[feliciafelicia]

Someone point me into how I can do this?

[COYOTEEXILE]

This is off topic but can you do a video on if it's worth buying a dog? Say a quality animal around $900? Is it a total waste of money for mans best friend or is the emotional happiness worth the cost of ownership and purchase...