Monday, January 28, 2008

Student Loans

I (like many in the field) graduated with student loans. In fact, I graduated with two student loans: one massive and one very large.

I have been paying them back rather aggressively (I am a big believer in suffering in the here and now in order to avoid the tens of thousands in interest that I would pay if I took advantage of the maximum loan terms and paid only the minimum payments) but have to admit that I haven't been giving much attention to the balances. After-all, it hasn't really mattered because I have been paying the maximum that I can and the balances will be what they will be regardless of whether I am tracking them or not.

Hence you can imagine my delight today when I received notification that the very large loan is now paid in full.


I did a happy dance.

There's very little that is worse than being saddled with student loans but there is also very little better than the feeling of paying one of them in full.

The remaining massive loan? Today's news prompted me to check the balance and forecast complete repayment. 2010. In the year 2010 I will be student loan free. Ah! Today I can taste how wonderful that is going to be.


the little medic said...

Excellent news! I can't even imagine when i'll be debt free but i'll be making every effort to make it as soon as possible.

Elaine said...

That is wonderful newsn Well done.

Anonymous said...

Loans, pushed to the back of my mind. I'm hoping you're on the younger side of 40...

The day I start to pay off my loan is still a long, long way off.

Kendra said...

Congratulations! Like other commenters, I am also dreadfully far away from that day. I've already passed the 6 digit mark, and there is no end in sight!

Artemis said...

Hurray for you - I also graduated with a substantial amount of debt, and worked my tail off to pay it down...the day I received my final "paid in full" notice was terrific! I hope you'll soon have that great sense of accomplishment :)

Bardiac said...

I remember figuring out the final payment on mine, and just feeling like a weight lifted! I was lucky enough to be able to move the same money into saving for a down payment, so the discipline paid off for me.


Midwife with a Knife said...

Congrats! I'm hoping to be able to start paying mine by 2009. :)