Federal student loan payments are on pause through August 31, which means more money can stay in many people's pockets.
But what should people do with that money and should they continue to pay off student loans of they can?
"I would make sure that my necessity expenses are paid for before I did anything else," Gilder said."You want to make sure your food is paid for, your gas, your rent or your mortgage." "With so much uncertainty of what is going to happen to federal student loans, I would advise to keep the money liquid and see what the government is going to do with student loans," Gilder said. "I would set aside my monthly student loans in cash account with the assumption that you will have to start paying your student loans in the future."
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