Why I'm Paying Back My $24,000 Student Loan ASAP | HECS

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In todays video I share with you why I have decided to pay back my student loan in full after only paying back the minimum each year. Watch till the end to find out.
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In this video: HECS, student loan, paying back a loan, refinancing, mortgages, real estate, buying my 4th investment property, sydney house price, Australia finance, personal finance.

Опубликовано:

29 окт 2024

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Комментарии : 18

@hakeem6060 Год назад

This was a great decision in hindsight. Hecs/help debt is rising by 7% as of June 2023. Good on you! Hope it’s going well.

@timmyho2572 Год назад

Tldr having hecs heavily impacts your borrowing capacity so if you’re looking to pick up a higher mortage make voluntary payments

@malkov0001 5 месяцев назад

Any form of bad debt (debt against purchases that is NOT tax deductible, does NOT produce investment income and or capital gain) should be paid off ASAP. A small tip from someone who has 5 properties (gross valuation is about AUD$5.5M with only 5% debt/LVR). Not boasting about my property portfolio as MANY others own much more. Just sharing our experience...

@NJMazani 5 месяцев назад

I’m an 18yo first year student and I’m wondering since I have the cash, can I just pay the whole debt in full now? I don’t wanna pick up indexation and want to keep my credit score up just in case

@joseanp9061 2 года назад

Interesting!! Basicly this is a good idea, you release equity resources and you expand your finacial freedom and you can use it for new investments more profitable. Good. When I boght my house I tried the same thing with my mortage. I reach to earn money because the goverment economic reliefs was higher than my mortage interest rate at the end loan. Great video Sanja. In my country citizens have 36000€ to use as a goverment economic reliefs during throughout his life if you buy houses.

@hienwyant4117 2 года назад

@Shadow1986 Год назад

How's your decision to stack debt and real estate going? Lvr nice and healthy?

@successbysanjna Год назад

It's been going well! I managed to purchase 2 more investments after that :)

@azza4793 Год назад

A lot of people are going to get burnt due to this strategy this year. Investments are risks hopefully you bought in the correct spots.

@ValdeSanus Год назад

Its % of your income not % of your loan

@Stephanerkt Год назад

You should remove your Celsius link. Be careful of what you promote

@site_is_down 2 года назад

Banks loves long-term loans as they are earning every month from it. The longer the loans gets paid off, the higher the profits they can earn from interest on it. that’s why it’s advisable to pay off debts as early as possible.

@successbysanjna 2 года назад

But productive debt means you are also able to benefit from the loans too by leveraging. Yes the banks will make money, but it also means you will be in a better situation too :)

@josephwinder6878 Год назад

You do not take loans and not pay them. Very simple. Pay your debts.

@successbysanjna Год назад

Not necessarily. There are debts which are good and some debts which are bad. It's important to know the difference and how debts can actually be leveraged :)

@josephwinder6878 Год назад

@@successbysanjna this is about HECS. And you can babble in about financial stuff but I maintain, you borrow money, you pay it back. It's called integrity and morals

@theclown888 Год назад

Agreed. Took a loan? Cool. Pay it back as agreed.

@forespyreksons4667 3 месяца назад

HECS is taken from your paycheck similarly to tax. You are not obliged to make a bigger payment than the amount that the government stipulates. If you want to pay it off sooner, you can also do that. That is what this lady is talking about in this video.