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!
Clearing off debts is such a satisfying feeling. And you’re going the right direction by working up. Wishing you a fruitful journey in terms of your financial future!
Baby steps! And there are always things go wrong, but so long as we keep making good choices in how we spend our income, we’ll keep trucking forward. 🙂 Thank you!