SoFi Blog

Seeing your final student loan payment post might elicit cheers of joy, sighs of relief, or both. Your epic, years-long journey to be free of student loan debt can only be capped off by an equally epic celebration, whether you want to simply treat yourself to dinner, or host a massive payoff party.

But, the huge sense of accomplishment you feel can often lead to overspending once you are finally free from student loan debt, so make sure to acknowledge the investment you’ve made in yourself and celebrate paying off your student loans smartly.

In a 2011 interview about what makes a good investor, Warren Buffett said, “The good news I can tell you is that to be a great investor you don’t have to have a terrific IQ. If you’ve got 160 IQ, sell 30 points to somebody else because you won’t need it in investing. What you do need is the right temperament.”

So what exactly is the right temperament? What are the shared characteristics of the most successful investors?

If you’re unable to make payments on your student loans, you might be considering some extreme options, like leaving the country, going underground, or building a time machine. But there are other, more practical options out there, such as forbearance. What is forbearance, you ask? It’s a federal program that can help postpone payments for qualified applicants.

Sounds like a perfect solution, right? Not so fast—it’s a little more complicated than that.

While you’ll temporarily be able to stop making payments, interest will continue to accumulate on your loan. This interest gets added to your balance when the loan switches out of forbearance and back to your payment plan.

The past month has been extremely active when it comes to initial public offerings (IPOs) from major companies in tech. For some, like Lyft , whose company stock suffered after their IPO, April can really be the cruelest month. But others, like Zoom , experienced sky-high gains.

Residency can be both exhilarating and terrifying. You survived med school and are officially a doctor. You’re finally practicing medicine in the real world. But behind the excitement and responsibility is stress.

As a resident, you’re working crazy hours, running on minimal sleep, all while trying to save lives and make no mistakes. On top of all that, many residents are acclimating to life in a new city. And trying to figure out how to pay off a boatload of medical school debt in residency.