How should I balance paying off my student loans and contributing to a 401(k) plan?

I have over $200,000 in student loan debt. Some people have advised me to focus on paying off the loans, while others have advised me to keep contributing money into a 401(k) plan. How should I balance these two goals?

College Tuition, Debt, 401(k)
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4 days ago
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I can appreciate how overwhelming and confusing it can be to hear conflicting information. I am not certain of your income, age or monthly budget. If possible, I would suggest to contribute enough to receive the full employer match. It is important to accumulate wealth on a tax-deferred basis, as well as pay of your student loans. Many student loan borrowers don't realzie that they  can also change their student loan repayment options. A change in payment options will not negatively impact credit scores. Here is a link to the student loan repayment options. https://studentaid.ed.gov/sa/repay-loans/understand/plans

You will also be able to access a helpful calculator.

Good luck to you!

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