Smallest Student Loan Paid Off!

We have been working on paying off my student loans. I had three – two that are consolidated into a federal loan and one through a private company.

The federal loan ones are $24,000 and $9,000. You can’t separate payments out for them, and they’re in forbearance due to the Covid situation, so we focused on the smallest loan which was a private loan.

The one we were working on with the private lender was $12,000 originally. It was down to ~$1800 in January, so we made a hard push with our taxes and then our stimulus checks.

There was no ‘pay off’ button, although I could calculate a ten day pay off amount. But it wouldn’t let me pay more than was currently in the account.

So I paid the full amount I could.

Came back the next day, and I owed $0.06.

Rolled my eyes and paid that.

That’s the screen capture as of the day that was paid. I get a different screen now that indicates I have no account balance with them.

And, you know I couldn’t resist showing you my pay off chart!

I’m SO happy about this. Between clearing the credit card and this loan, we opened close to $200 a month in bills that I can sweep towards the various fires we’re putting out right now.

So, huzzah! What does your student loan situation look like? What are your opinions on student loans? I got out lightly compared to a lot of my friends who went to the same college. Inquiring minds want to know!