<prompt> Human: My parents have offered to pay my husbands both of us are 25 private loans to rid us of interest, then the idea is that we pay them back. They are retiring and this is what my mom wants to do with a lump sum shes receiving from work rather than receive a bit more money each month forever. Theoretically shed get the money because wed be paying her, which is fine with us. EDIT: but they will not charge interest! We have a great relationship with my parents and they have no complex about money. However, my husbands debt 63k, consolidated already, interest rate: 4.73, rate discounts: -0.25 interest rate fluctuates monthly based on market rate. Right now we are paying about 250 a month just on interest. Principal starts in 2-3 years and will be 500 a month. It will reach maturity in 2030.One of the main issues is that I am starting grad school in the fall and am looking at 5-7 years of making grad assistant money while my husbands income is only about 40k a year at the high end. Saving will already be tough in the area well be in and we also pay his public loans 25k. It would be nice to not worry about saving enough for the jump up to 500 a month and keep paying the 250 until we get out of school. I havent talked details with my parents but I expect them to request we pay the same rate or that they will even have us not pay them back until after I receive my degree.My question though is, if we are only paying interest for the next 2-3 years, then all principal, does that mean the bank already cashed in on all our interest payments? Would we really only be saving the next two years of payments because we have interest due now? Does it make more sense for my parents to just pay the interest through the bank then we pay the principal? Is that even a thing? We are so confused about this and our bank obviously doesnt really make it easy to understand how much we are saving if we paid it all off... It seems like a good deal but I dont want to cheap my parents out of retirement money they could use for themselves if this wont really benefit us much. If anyone has any advicean explanationa site or calculator we can use that would be supremely helpful. Thank you.  <response>: Yes.. You should absolutely take it. 