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Author Topic: student loans gone  (Read 3166 times)

COMO

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student loans gone
« on: January 03, 2014, 08:52:33 AM »
My wife and I live fairly frugally but have made our share of mistakes in the financial world. One being the choice of school she attended for grad school. She got her masters of occupational therapy at Washington University in St. Louis.  Wash U is one ofthe top med schools in the country and the top ot school. They charge like it. Being young and dumb we fell for the prestige thing. 90,000 dollars in loans later it was happy graduation day. Well this December we paid off the loans 24 years early. I still feel stupid for our choice but am happy to be started on our post debt life.Time to ramp up our savings. Hope anyone reading this already realizes that pedigree and prestige mean squat in the market place 99% of the time. I can guarantee I will have this discussion with my child about school choice.
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FIreDrill

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Re: student loans gone
« Reply #1 on: January 03, 2014, 10:16:34 AM »
Just wanted to say congrats on paying off those student loans.  Paying off 90k is no small feat!


Congrats!

SS
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mariarose

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Re: student loans gone
« Reply #2 on: January 14, 2014, 10:56:26 AM »
Great job! You optimized your life as of now and dug in. Past mistakes are to be learned from, not held onto.

I did a stupid student loan thing for my oldest child.  He did not pay it back, I just got the letter from the loan company yesterday officially telling me I had paid it off.  Once I let go of the idea that it was not mine, that my son had to pay it back, I put it into my debt repayment line up and got it done.  Feels great!
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Ed Mills

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Re: student loans gone
« Reply #3 on: January 14, 2014, 12:18:52 PM »
Congrats Como,
My wife and I paid off $40,000 in students loans back in about 2.5 years.  I took a job in Saudi Arabia where I made decent tax-free money teaching.  Since I had few expenses other than food and phone calls (there was no Internet in S.A. at the time), I was able to throw whole paychecks on my student loan.  After my loan was done, I did the same to my wife's.  We're so glad we didn't have those things hanging over our necks for 15 years; nice move on your part!

Enjoy your financial breathing room and good luck working your Mustachian plan.
Ed

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Grateful Stache

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Re: student loans gone
« Reply #4 on: January 14, 2014, 05:45:50 PM »
Congrats... That's a huge accomplishment!
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mrsggrowsveg

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Re: student loans gone
« Reply #5 on: January 15, 2014, 06:59:39 AM »
Congratulations that is so awesome!  I can't imagine how accomplished you feel
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odput

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Re: student loans gone
« Reply #6 on: January 16, 2014, 06:24:15 AM »
Made an $1800 payment yesterday to polish off the last of my student loans (god that feels great to actually type out) so all that's left is DW's grad school.  My old monthly payment has already been added to her auto-debit amount as extra principal :-)
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olivia

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Re: student loans gone
« Reply #7 on: January 16, 2014, 08:21:48 AM »
Wow, congratulations!!!
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