Posting this a day early as New Year's revelry plans are taking us out of town to visit friends in a few hours. The numbers are a little skewed on the Perkins loan because I paid them $225 and they must not have calculated this month's interest yet because it is showing a reduction of $220. Wouldn't that be nice?
This time last year I owed $132,872.72. As of today, my current debt stands at $123,010.35 - a reduction of nearly $10k! At my current rate of payment I will have all of my student loans paid off in a little over 11 years....but I hope to have them paid off in 8 years.
In October of this year I paid off my Law School loan, a loan given to me straight from the school at a killer interest rate of 8%. Now that it's gone I am attacking my Perkins loan, which is my highest interest and lowest balance loan standing at a rate of 5% and less than $7k remaining. I hope to somehow figure out a way to kill this loan too in 2011.
Here are the totals:
I hope everyone has a great New Year's!