$2128...
4 days ago
$2128…
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People who have done this
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How to pay off my student loan
It made me
ecstatic!
 "FINALLY... I'm debt free!!!"
How I did it: Just kept making my monthly payments and made as many extra payments as I could. Income tax refunds, gifts, any little extra helped. My dad helped me out as well. |
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More "How I Did It" stories
rebekahburder is working, again.
It made me
How I did it: I started by making large payments, and then when our pay schedule changed I started making more payments to reduce the principal. Anytime we had extra money, I put it towards the loan. When I quit my job, I had a lump sum that I used to pay off the remaining amount. This part was the hardest, because the monthly amount I was paying wasn't as "painful" as paying off the remaining 5K. I made sure we had enough in savings for a few months o… Read how I did it…
carecalder is so so sleepy after a very late but super fun night
It made me
relieved
How I did it: I always made an effort to pay more then my minimum payment. This was crucial. I made sure I made payments as soon as I got paid - that way I couldn't spend money on other stuff I really didn't need (but probably wanted). When my salary increased, by monthly payments increased. I wanted to get rid of the burden of this debt before spending money on certain luxuries. You can't have everything (I mean specificall material things) you want, … Read how I did it…
beanqueen is figuring out how to pay for her trip to Antartica
It made me
happy!!
How I did it: I submitted 2 payments every month to get ahead on the interest. Direct Loans won't let you pay a principle only payment-so I paid a significant amount on the due date and an even bigger amount later in the month. I put every extra dollar that came my way to this debt. Tax refund, stimulus checks. I told everyone I knew about this goal and it forced me to live up to my goal of paying off my loan in one year. I could have bought a Mercedes… Read how I did it…
It made me
How I did it: I lived like I was getting less than minimum wage at work, so that I could maximize my savings. I continued making the minimum payments on my loans and then when i had enough saved I switched my payment plan from having 5-6 more years of monthly payments to having just 2 months of payments and paid it off in 2 months. (I saved for 1 and a half years for that moment). I didn't live unhappily, I just saved as much as possible. Read how I did it…
People doing this are also doing these things:
Entries
Treefern is secretly a ninja
Student loan
2 weeks ago
I don’t think this is the right time to do this, I wanted to pay it off by the end of the year.
At the moment I am apartment shopping, so this is going to have to wait a little longer.
ladydoku is studying dangme
Untitled
2 weeks ago
I took a student loan for a macbook pro and adobe cs4. I think I will be able to pay everything in one year since I now can work witth my programs freelance while i’m schooling.
farossi is at work, as always!
Untitled
3 weeks ago
Graduated: October 2008.
Owed: $13,400
Now: October 2009.
Owe: $8,000.
I need to get rid of this by late next year for sure.
At least interest rates are at their lowest, though!
Untitled
3 weeks ago
I am in graduate school and am self financing the next two years of my education. I am working on my strategy to start repaying the $60,000 I will owe as soon as possible. I know its going to take a lot of sacrifice, but I am used to living frugally and hopefully, my anticipated somewhat higher salary and my commitment to not being buried in debt will enable me to pay off my loans in a timely manner.
Treefern is secretly a ninja
Yay for me :-) and paying bills
3 weeks ago
I just made my second repayment ever.
Treefern is secretly a ninja
Yay!
1 month ago
I just made my first repayment of any sort ever!
It wasn’t a lot, but it was a start :-)
Treefern is secretly a ninja
I guess I should do this
1 month ago
But do I want to?
I am not sure I do want to do this,
Like, does it really matter?
The rate of interest is so low, I could do better to invest the same amount of money instead & pay this off at a later date.
I am not even sure how much the loan is anymore,
I think I will try to find how much exactly it is now & see how I feel about it.
AndrewWade is productive.
loan
1 month ago
I should be able to do this when I graduate. Should. I’m trying! Depends somewhat on co-op jobs for the next two summers.
→ See all 223 entries
Ask for advice: Get help from people who've accomplished this goal
 Port St Lucie
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Common $ense asks,
“I am requesting a forbearance from Sallie Mae, any advice or anything to be careful of?”
— 1 year ago |
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gaye1234 asks,
“is there anyway to get out of medical debt”
— 4 years ago |
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