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The other caveat is that student loan debt is not like other debt. The interest paid gives rise to a tax credit giving (in Ontario at least) tax relief of about 1.25% on the interest rate paid.

The other thing is that student loans are deferrable (you can put them on hold if you go back to school) and there are also interest-rate-relief programs for SL debt.

I know your SL debt is relatively small. But you should run the numbers including the after-tax (after-tax-credit) IR on the student loan so you are comparing after-tax rates. Make sense?
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