<prompt> Human: Hi everyone--Ive been reading on rpersonalfinance a lot lately and was hoping you guys could help me out. I will be starting my first job after graduating college soon, and was wondering if I would be better off contributing to a 401K or paying off my loans instead. I have always heard that you should contribute to your 401K as soon as possible to take advantage of interest accumulation, but after researching, it sounds like paying off your loans first maybe a better option since the interest you earn on your 401K could be offset by the interest you are paying in loans. Here is my situations:Single, no dependents Annual Income: 47,500 plus any overtime and a potential 2000 bonusMonthly RentUtilities: 700Student Loans: 22,472 principal, 4000 interest 6.8Other Debt: 4,750 6Company 401K Policy: Employees may elect to deduct up to the maximum dollars allowed by the IRS. The firm will make a profit sharing contribution historically a minimum of 3. Any insight would be greatly appreciated. If you need more information or further clarification, just let me know. Thanks!  <response>: You should find out the nature of the profit sharing contribution, but it usually means they will contribute on your behalf regardless if you do or not. If this is the case, pay down high interest debt before contributing anything to your 401k.If the profit sharing contribution requires you to contribute to your 401k, you should contribute the minimum amount needed to get the full match before putting money towards your high interest debt. 