Paid off my first student loan

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Posts: 80
Joined: Wed Oct 17, 2007 10:08 am
Location: Canada

Paid off my first student loan

Postby Chibioki » Mon Jul 21, 2008 7:08 pm

I payed off one of my student loans last month :) it's so exciting. now i only have one student loan left.

I really want to thank this site [and J.D.] for introducing me to the debt snowball. When i left school i had two student loans one for over 30,000 and one for ~2,000. I didn't put anything towards the bigger one because it seemed impossible to get rid of and i didn't put anything to the other one because it was so little it didn't matter. But when i got serious about my finance i decided to pay extra towards both. at least with money going towards the little one i would see some change.

Now that little debt is gone when i look at the big one it seems manageable.

Posts: 230
Joined: Thu Jul 17, 2008 8:37 pm
Location: Upstate NY

Postby mskalinin » Tue Jul 29, 2008 9:27 am

Congrats on that! I can't wait till mine are paid ^__^

Posts: 211
Joined: Mon Jun 11, 2007 8:13 am

Postby 144mph » Thu Jul 31, 2008 6:14 am

Congrats! I just sent in my final payment today and I'm glad to be rid of that tiresome payment.

They kept jacking up the rate on me. It started out at 4% and by now, it was sitting at 7%. If they kept it lower, I wouldn't have been in a big rush to pay it off, but I guess they realized that with inflation at 10-11%, they were losing big money by keeping the rates so low.

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