I'm currently finishing my undergrad degree and will owe $12,000 or so. The loan is deferred for 6 months after I graduate, so I don't start payments until then. I was wondering if I had the $12,000, could I just pay it in full right away instead of the... 5 million monthly payments?

Thanks.

Yes, you could.

Yes, saves money in the long run.....But most student loans are the cheapest money you can borrow

In the distant past, I had a student loan but was able to work enough so that I could pay the loan off before graduating. I wanted to have NO debt after graduating from college.

The funny part was that the college had a requirement for an "exit interview" to discuss your repayment options before giving you your diploma or transcripts. (Make sure that you get proof that the loan has been PIF i.e. the original loan agreement back or some other statement saying the student loan is PIF). My "exit interview" was real short. I simply dropped a copy of the student loan stamped PIF on the desk and said "Well, you see my repayment plan. Now can you clear me so I can get my diploma and transcripts ??"

If you can PIF those student loans, FFS PLEASE DO IT.

The interest rate looks all nice, except that most people tend to drag out paying it back because they want to have more post-graduation drinking/partying/traveling money.

PAY THAT $%&# OFF!!!!!!!!