<prompt> Human: Should I diminish all my savings to pay off my school loan?Heres where I am at. When I started my first quarter at college, I didnt have a job. In order to pay for school, I took a 5500 loan Not sure of the name, but I only have to pay it off after I graduate, but it does gain interest. Now I have a job pays just above minimum wage and can easily pay for tuition on monthly payments. With the job, I have saved up 150 a week, and acquired 6500 in my savings. My loan is at 6200. Im currently living with parents and only required to pay for tuition. Im close to finishing my 2 years at a Community College and will inevitably, transfer, move-out, and be completely on my own financially. Knowing, I will be on 100 loans at University cant afford it. Should I pay off my loan debt while dissipating my savings, or should I let the loan gain interest while living off the 6500 savings?Thanks for reading, really appreciate any advice.  <response>: I would drop 5500 on the debt. That would leave you with 1000 in savings which is just enough to handle most emergencies especially since you still live with your family and seem to be on good terms. Your debt would drop to a very manageable 700. I would then spend the next 5 weeks throwing your 150 at the debt. It will be knocked out SO quickly and it is one less thing to worry about. Edit: I know you said you will be transferring soon. I assume that means you will finish community college this spring or summer. Either way I would try to work as many hours as possible during the summer to replenish your savings as you will need extra money up front for apartment deposits and moving expenses. 