<prompt> Human: My parents extended me 26k with no interest until 6 months after I graduate. After that rate is 5 with monthly payments 500 for 5 years. July 1 this month I start paying interest. I have 3k saved up a pittance, I know and can put 1k a month into savings after that monthly loan payment. My question is: how should I go about paying this off? Do I stick to the 500month or should I get this thing paid off ASAP?  <response>: No one EVER says Man, I wish Id stayed in debt longer. General advice is:1 Emergency fund some say 1K then pay off debt, others 3-6 months then pay off debt2 Maximize employee-matching for retirement contributions3 Pay off debtPersonally I did the 1K and skipped 2 and attacked the debt with every ounce of focus I had. You said you had 1K for savings after the 500 a month. Thats a total of 1,500 you COULD be paying towards debt. Doing that it would take 18 months instead of 5 years.Id say keep the 3K as an emergency fund and make a game out of your life for the next 15 months to pay it off completely. 