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Just Made an 7k Lump Sum payment towards my Student Loan.

  • F*CK YOU, Student debt!!

    I thought I would feel better. All I can do is think about all of the cool things I could have done with that 7K and the 11K I paid back in December.

    There should be a bittersweet smiley.

    PS

    Cool Story Brah

    Jor El

  • I've thought about doing the same, but at this point the interest I'm paying is very small so I've let the cash sit in some investments.

    PortlandSpartan

  • I made a 3k dent in my student loans this past month. No better feeling than watching that balance go down quicker.

    I bought some batteries, but they weren't included... so I had to buy them again. What do batteries run on?

    Steven Wright

  • Just think, you probably wouldn't be able to swing such a huge payment if you hadn't gone to college ;)

    I want to pay off that last $6K of student debt to be totally debt-free, but it doesn't make sense since I somehow stumbled my way into a 0% interest rate.

    MSURed

  • clap

    Props bro!

    How much for do you have left?? The wife and I just went below 7k. I think once we it 5k, I am just gonna pay it out lump sum style

    signature image

    Holdensheroes

  • I did just about the same thing. 11k in January, and 8k in March. Officially paid them off now. Don't know what I'm gonna do with all the extra money I'm gonna have now. I could think of worse problems to have.

    signature image

    The Doctor is in:

    Dr Lou ●

  • MSURed said...

    Just think, you probably wouldn't be able to swing such a huge payment if you hadn't gone to college ;)

    I want to pay off that last $6K of student debt to be totally debt-free, but it doesn't make sense since I somehow stumbled my way into a 0% interest rate.

    That's where I am too, plus because of my job the balance is forgiven after 10 years. No hurry to pay it off.

    signature image

    RPMadMSU

  • Holdensheroes said...

    clap

    Props bro!

    How much for do you have left?? The wife and I just went below 7k. I think once we it 5k, I am just gonna pay it out lump sum style

    Unfortunately I still have about 30K to go. Two left, each with about 3.5% interest. I stupidly took out private loans.The two that I paid off this year had interest rates on 7.5% and 8.25%. I originally owed 55K and was making the minimums until I got serious this year. My balance as of 11/1/2011 was 48K. Here I am on 3/23/2012 with 30K left and lower interest rates. All before my 30th B-day. Not too shabby I guess.

    Jor El

  • I'll trade every single person in this thread student loan debts.

    mynamebmj

  • mynamebmj said...

    I'll trade every single person in this thread student loan debts.

    I'm at 120k and counting....

    This post was edited by chpueblo22 on 3/25/2012 at 11:05 AM

    signature image

    chpueblo22

  • RPMadMSU said...

    That's where I am too, plus because of my job the balance is forgiven after 10 years. No hurry to pay it off.

    Out of curiosity what line of work would that be?

    My wife allegedly has something like that but it makes no sense as it seems to require a 10 year loan.

    Larry Kazamias ●

  • 437 M.A.C. said...

    F*CK YOU, Student debt!!

    I thought I would feel better. All I can do is think about all of the cool things I could have done with that 7K and the 11K I paid back in December.

    There should be a bittersweet smiley.

    PS

    Cool Story Brah

    Represents a lot of hookers and blow dude. Quite a sacrifice.

    You've taken money out of pimps and drug dealers hands and you've given it to the corporate greed monsters who will only send it off shore and not use it to stimulate our economy. Hookers and Pimps and drug dealers are at least going to malls, restaurants, buying huge cars in lump some cash payments, going to our drug stores for herpes cures and spending the money that will keep the middle class happy here.

    I hope you can sleep at night thinking of what you just did.

    signature image signature image signature image

    DWags ●

  • I'm at 10k and 2.5 percent, I'm not paying a dime sooner than I have to. I figure I'll make more on the market or pay it on my house or avoiding car payments.

    bpmcgant

  • mynamebmj said...

    I'll trade every single person in this thread student loan debts.

    I don't want to get in a pissing match but I think i might take you up on that offer. I'm at $250K and the wife is at $250K
    edit: and at least half of it is in the 7-8.5% interest range. My lowest is 4.7% and that's only about 1/4 of it.

    This post was edited by Stils on 3/25/2012 at 11:19 AM

    Stils

  • Larry Kazamias said...

    Out of curiosity what line of work would that be?

    My wife allegedly has something like that but it makes no sense as it seems to require a 10 year loan.

    Switch her loan to an income based payment and it will extend it out to 20-25 years and drop your payment considerably.

    Stils

  • chpueblo22 said...

    I'm at 120k and counting....

    I will have you beat too...Income based repayment FTW!

    mynamebmj

  • Cheapest money I'll ever borrow. I'm in no hurry to pay it off.

    Motown Spartan ●

  • I started out around 60k, it's down to 45k in two years. 6.05%

    I bought some batteries, but they weren't included... so I had to buy them again. What do batteries run on?

    Steven Wright

  • 437 M.A.C. said...

    F*CK YOU, Student debt!!

    I thought I would feel better. All I can do is think about all of the cool things I could have done with that 7K and the 11K I paid back in December.

    There should be a bittersweet smiley.

    PS

    Cool Story Brah

    You're my hero. If only I could do that.

    Calmer than you are

    Mister Green

  • Larry Kazamias said...

    Out of curiosity what line of work would that be?

    My wife allegedly has something like that but it makes no sense as it seems to require a 10 year loan.

    I'm assuming it is a public interest job (non-profit or government work), he is on income-based repayment or income-contingent repayment, and his loans are serviced by Federal Direct. After 120 monthly payments, the government will forgive the remaining principal.

    Here's more info: http://www.equaljusticeworks.org/ed-debt

    Also, it does not require a 10-year loan.

    This post was edited by SpartanBoiler on 3/25/2012 at 11:25 AM

    SpartanBoiler

  • ~Stils~ said...

    I don't want to get in a pissing match but I think i might take you up on that offer. I'm at $250K and the wife is at $250K edit: and at least half of it is in the 7-8.5% interest range. My lowest is 4.7% and that's only about 1/4 of it.

    Holy cow, you can actually borrow that much money for student loans? Man am I out of touch.

    signature image signature image signature image

    DWags ●

  • D.Wags said...

    Holy cow, you can actually borrow that much money for student loans? Man am I out of touch.

    Grad school tuition was about $60K per year. pukeface. It will be worth it in the long run. That's what we keep telling ourselves. I'm more ticked that the lowest rate we were locked into was well above 6% and we only got some knocked down to 4.7% due to a consolidation deal they did about halfway through school.

    Stils

  • D.Wags said...

    Holy cow, you can actually borrow that much money for student loans? Man am I out of touch.

    I believe his name begins with Dr. if that helps you understand

    Edit: wait, is Stils a doc or not?

    This post was edited by Mister Green on 3/25/2012 at 11:38 AM

    Calmer than you are

    Mister Green

  • ~Stils~ said...

    I don't want to get in a pissing match but I think i might take you up on that offer. I'm at $250K and the wife is at $250K edit: and at least half of it is in the 7-8.5% interest range. My lowest is 4.7% and that's only about 1/4 of it.

    I feel your pain, minus the whole having a wife thing...

    mynamebmj

  • Steven Wright said...

    I made a 3k dent in my student loans this past month. No better feeling than watching that balance go down quicker.

    this is kind of the approach i think i'm going to take.

    i started a new job and deferred my loans for about 6 months. part of me is dreading making that call, but after a couple pay checks, it will probably feel like a good idea.

    signature image signature image signature image

    Harry Hood

Michigan State
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