Right now I have about Â£16,000 in the bank. That's more than enough to completely pay off my student debts I accrued over the course of 4 years at uni. I don't know exactly how the US system works, but in the UK your student loan has an interest rate, however you don't have to make mandatory payments as such. A percentage is taken out of your salary every month depending on your earnings.
So, if you are unemployed, or earning below a certain threshold, you don't even have to pay it. However, I have been employed, and have been making the minimum repayments based on my income. Not much, but it's enough to chip away at it and stop the debt getting bigger.
So, as it stands, I could wire the money to the student loans company, and be 100% debt free in one big swoop. It would be a liberating feeling. However, I'm thinking i could be smarter, and invest in something. Only I don't know what.
What would you do?