Private College Student Loan

Should I get a house, pay off credit debt or pay off private student loans?

I have about 30k in cash laying about in a low interest account (3%). I could use this to pay off my credit card debt of about 5k or pay down my student loans (40k - private@8%). Additionally, since prices in my area have come down I could use this to pay into a mortgage (no greater than 200k). With so many options which way should I go?

Public Comments

1. I would first pay off your credit card since it should be at a higher rate than the private student loans. Than I would put 5 to 10K towards the student loans and spend the rest to help buy a house. This way you have no credit card debt, you have paid down your student loans so that you will pay them off quicker and you get a house so it is a triple win.
2. Pay off your credit card debt first. Pay off your student loans next (maybe about $15k of it), leaving enough of an emergency fund for when shit happens (because it will). Housing prices WILL continue to come down over the next year or so, I wouldn't rush into home ownership just to have property. It could take that long to find something you like as well.
3. Try and get a no money down mortgage, pay off the CC, and never pay down the student loans. Screw em. Give them $90 for the rest of your life. If you can't get goo loan than you would need to put down 10% and than you can still pay off your CC. The CC is the biggest bruiser. With your house you will get good right offs and the time to buy is NOW.
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