That's a pro strat

Here we are again, another month closer to being student loan free. This month I received a $40 check from ACS for overpayment which made me very happy. Also, Sarah's Loan 1 is scheduled to be paid off in the coming week! Due to us having different loan payment dates I won't be able to put the extra toward my loan quite yet. I do not want to recreate the situation I had previously and lower our savings account!

In addition I started working at my other job and I will receive about $800 in the middle of the month which will be applied to my next loan. This month I am on track to make well more than that and I should get a quarterly bonus in July. I hope that with our snowball payment and the extra income that I will be able to pay off my next loan in July but we shall wait and see.


1. Sarah’s Loan 1: 345 @ 6.8%
2. Bill’s Loan 2: 4,163 @6.8%
3. Sarah’s Loan 2: 4,448 @6%
4. Bill’s Loan 3: 4,135 @6.8%
5. Sarah’s Loan 3: 8,132 @ 5.75%
6. Bill’s Loan 4: 12,685 @ 5%
7. Bill’s Loan 5: 4,351 @ 5%
8. Sarah’s Loan 5: 5,048 @ 2.79%
9. Bill’s Loan 6: 2,463 @ 2.36%
10. Sarah’s Loan 6: 2,045 @ 2.36%

Total Debt: $47,815.76

I guess I'm not in much of a hurry this month to post a loan update because nothing exciting happened. If anything I paid a little less extra toward the loans than I should have due to switching loans.

The thought of these loans being paid off someday (still looking at May 2014) has me excited/nervous. The thought of having $2k a month extra is intimidating and although it is far away I am worried that our lifestyle is going change and we won't put the 'extra' to good use... I don't know why I am worried about this now!

...Loan balance update will be coming soon.

I forgot to mention that I received a letter last month that reduced the interest rate on my two loans that were at 6.8%. Because of that I have reordered the loans though the interest saved is minimal.

1. Sarah’s Loan 1: 0 @ 6.8%
2. Bill’s Loan 5: 2,030 @ 5%
3. Sarah’s Loan 2: 4,363 @6%
4. Sarah’s Loan 3: 8,105 @ 5.75%
5. Bill’s Loan 4: 12,618 @ 5%
6. Bill’s Loan 2: 4,117 @4.8%
7. Bill’s Loan 3: 4,088 @4.8%
8. Sarah’s Loan 5: 5,027 @ 2.79%
9. Bill’s Loan 6: 2,432 @ 2.36%
10. Sarah’s Loan 6: 1,993 @ 2.36%

Total Debt: $44,774.02

I made an additional $800 payment last month with the income from my part-time job. Hopefully this coming week I will receive $1200 from June's work which I will be applying to my loan. In addition I should be getting about $550 for my quarterly bonus and some of that will be applied to my loan.

Between my two jobs I worked 70+ hours this week and I am somewhat exhausted. However, I am on pace to earn $1600 this month. I originally set the goal of $4k for the summer so I should be well over that with 2+ months of 'good' work left.

I'm still kicking around the idea of refinancing the year-old mortgage. The original was a 30 year loan at 5%. We could now get a 30 at 3.625% or 20 at 3.5%. If it weren't for the up front cost I would do it in a minute. I just don't feel like I can spare the cash right now.

Still looking for a way to come up with the $6k I need to meet the goal of January 2014. Currently the payoff is still May 2014.