pay off my student loan

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…

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…

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…

How I did it: I began the year with a plan to put $100-200 on my loan every month until it was paid off ($2,000ish).But then fate stepped in and I've got this done 11 months ahead of schedule! I received a settlement from my insurance company for an accident I had back in July of 2008. Instead of blowing my money wastefully, I immediately paid off my student loan and put $1,000 into a high-interest savings account through E*Trade.I still have a $10,000… Read how I did it…

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…