Experts say if your student loan debt interest rate is high, you should pay it off before investing, according to Erin Lowry of The Broke Millennial.
uses a 5% interest rate as the cut-off for student loan debt. You should have an emergency fund and no high-interest debt before starting to invest, he said.
Personal Advisor Services, told Lowry."If you expect your portfolio to earn 6% to 8%, and your student loan debt is at 3%, 4%, or 5%, maybe, you're better off investing your dollars," Vitra said.Whether you invest while paying off student loan debt also depends on the climate in which you're investing, according to Vitra.
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