The coronavirus pandemic forced many businesses to shutter their doors, resulting in millions of Americans losing their jobs and tapping into their savings as their unemployment funds ran dry.
Almost one of every five American workers remain jobless and at least 29 million people are receiving unemployment benefits. Amid economic uncertainty, consumers are evaluating their various types of debt, financial priorities, and determining how to pay off debt faster.
Consumers are considering whether they should use their stimulus check to pay off debt — like student loans — or invest in hopes of gaining some extra money in the long run.
Should you pay off student loans or invest?
Both paying off student loans and investing are important. But how do you decide whether to pay student loans or invest? There are some important factors