Friday, April 30, 2010

Monthly Student Loan Debt Roundup

It's everybody's favorite time of the month! Time to do my monthly student loan debt roundup!

I'm happy to say that I am in the $120s! Seeing one digit go down is encouraging - makes me think my desire to not have six figure student loan debt isn't so impossible.

And I'm happy to say that at least two (I think only two) of my loans are now at values of less than what I borrowed! Woo hoo!

Both the Perkins Loan (originally $8800) and the Law School loan (originally $2000) I took out my third year of law school when my scholarship money ran out and I had a tuition deficit to meet. I'm grateful for the loans since they helped me avoid taking out private loans - only needed one of those evil evil private loans in law school, but I want them and their high interest rates to be banished.

So here are this month's numbers:


Angie said...

Not too dig too much into things that are personal. But have you discussed how your debt repayment will changed once you are married? Will hubby begin to chip in on debt repayment or will it come solely out of your paycheck still (negatively affecting both of you!) Just interested thats all. Because from the sounds of it he makes some good money. And you could wipe it out much faster if you work together after combining finances.

Sallie's Niece said...

That's not too personal, Angie. It's something I've been meaning to address - merging finances after marriage and how we're going to go about it. We're still working out a plan but we met with a financial advisor and we have some ideas of what we want to do. Anyway, right now my fiance is paying the mortgage, the utilities, the car note, so it's not like he's just sitting on all this money. I'll have to devote a whole post to explain this better but thanks for asking!

cc said...

i use to be an avid reader of your blog years ago, and then caught up several months ago. and i wanted to say GOOD JOB! just by the writing and the total tally-ups, i can see the major change. i, myself, is in debt and when i look at my spreadsheet and see how much my debt went down, i get so happy. :D

Aaren said...

I laughed out loud at the "less than what I borrowed" comment. I got there around 3 months ago with my own loans and I felt the same way! Congrats on your continuing paydown of your loans; mine are about $60k more than yous, but every victory is just that for me.

I'll just put out there that the loan issue works differently in every relationship. My boyfriend and I have decided to keep them separate when we're married (his are even higher than mine), even though our goals for paydown are the same, and combined funds will be used to pay them off expeditiously. Whatever way works for you is what's best.

Congrats on your accomplishment!

Shtinkykat said...

Looks like a lot of us who dug ourselves into the SL debt-hole used the "less than what I borrowed" amount as a major milestone. And indeed it is. Good job! It's amazing how far you've come since I first started following your blog. I'm looking forward to reading about your future successes, one step at a time.