Is it better to have student loans or a mortgage?

Eartha
My wife and I owe over $150, 000 in student debt with interest rates around 9-11% on each loan. Is it better to just refinance our house and pay it all off, for a lower monthly payment and interest rate?

Aundrea
Student loan interest is also tax deductibleI would shop around for some student loan consolidation companies.You should be able to get something around 5% for student loans (check Bank of America or other large lenders).On one hand student loans are unsecured debt which is a fairly high liability in the eyes of some financial institutions.But many don't look at it that way because usually at worst they will garnish your wages for a pretty low amount.On the other hand having little equity in your home can be dangerous too. My preference would be keep the student loans, but search for a consolidator with lower rates.9-11% is just robbery.

Annmarie
It's tax deductible on the mortgage, so refi. Refi with a fixed rate, don't do an ARM.

Piedad
I would say student loans, but it could work either way. You have the option to write off your mortgage interest if you have a mortgage loan, but typically you can get a student loan consolidation at a good rate and sometimes even interest deferred. I got my student loans at 3.5%. If the best you can do is 9-11 the mortgage may look more attractive, but the interest is computed differently so you might end up paying longer.

Bruno
mortgage earns equity and retains value

Bernardina
Egad, that's the highest interest rate I've seen on student loans ever! I'd suggest refinancing your student loans if at all possible. I wouldn't want to risk a home that's paid off over student loan debts that, at worst, will be garnished from your wages.

Coralee
Read the find print, if you refinance! People are losing their houses over "teaser" rates.

Clement
Pay off the student loans. You should be able to get a mortgage at around 6.25% these days. The student loan rates are outrageous; how did you manage to get loans with rates that high?

Angelina
refi student loans... go with whatever gives you the lowest interest rate.. hands down