So Currently my private loans are:
I plan on making a payment of $4,300 this month. I made sure I had an emergency fund first and this is money that I can part with although I would have rather used this on a vacation or something I enjoy, seeing this money going toward the principal balance will be worth it.
Cant wait until I hit under the 40k mark!
Almost below the 50k mark!! I know it still seems like a lot but 2 years year I started at a little over 70k in debt. So I am just happy to see the numbers go down. Also, I sent in my final car payment of $955.00. My next debt to tackle is my Direct Student loan which is $5,006 @ 6.55 interest. I really wanted to get this paid off this year but it might not be until March now.
THen it is the private student loans currently at:
24,032 @ 4%
20,385 @ 2.77%
I need to more strict with my budget, especially food spendings so that I can put more money towards these loans – I refuse to pay on them for 15 years!
I put 2000 toward my Direct Student loan and now I am going to make another payment of 700 on the 14th.
Then I will owe $9,200
I started at $14,200 this time last year so I guess that isn’t so bad. This is my highest interest rate loan at 6.55% so I want to get this one paid off before I even tackle more than the minimum payment on the private loans which right now are at about 45K.
I got a new job where I will be making more money, so my goal is to now put 1500 a month toward my student loans. At that rate I should have it paid off in 4 years. The question is can I stick to such a tight budget for that long? We will see…
so I have committed 1,000 dollars a month toward paying off student loans ( Made it so it automatically comes out of my checking account). This will require some serious budgeting, but it is worth it to save on interest. I entered all of my loans into a debt snowball calculator and at this rate I should have my 59k student loans paid off in 5 1/2 years.
I hate seeing how much money goes toward interest on my student loans! Right now I am trying to prioritize my whole life to try to pay off these dang loans. My husband donates about 400 dollars every month to charities, I really want to tell him to put more money toward my loans so that we can both be in a better position, do you think thats a fair thing to do? I really feel like I can’t start my life until this debt is significantly decreased. Right now it is about 60k.
I paid off my ACS loan! It was 1400 left and that only makes a dent in all my loans but it feels good to wipe out that one and not worry about it. So at the beginning of the year i was 69k in debt and now I am about 64k. Slow but making progress in the right direction!
darn student loans! A psych degree was not worth 65k in debt.. if only someone had told me this before. I will have a plan of attack in about a month so interest doesn’t kill me.
I still look at this goal and get so overwhelmed!! I try not to let it control my life, and just take it small steps at a time, but it has already been 7 months and I have only paid about 2,000 toward all my student loans, that leaves approximately 65k left. In one month, after things settle down my husband and I will have to re evaluate how to go about paying this down…until then…
Made my first payment of 1k today. 64k more to go. It was a big chunk of my money but I am really going to try to do that much EVERY month. In order to do that I need to really REALLY watch my spending and do everything from clipping coupons to do odd jobs here and there..but I hope to have this goal achieved within 5 years at this rate.