Author Topic: Paid off 41,000 to student loans in 12.5 months  (Read 2220 times)

Steve Rogers

  • 5 O'Clock Shadow
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  • Posts: 38
  • Age: 36
  • Location: Hoboken
Paid off 41,000 to student loans in 12.5 months
« on: June 14, 2016, 10:08:22 AM »
Hi all,

I finally checked out this blog after my brother showed me it in June of 2015. Before finding this blog i never missed any payments for my student loans or had any cc debt but i would spend all my income going out and partying. At the time i was probably making about 50K.

The loan when i started making larger payments was still not mistaken 56K broken up into 4 loans with interest rates of 8.6,8.3, 6.6 and 6.5. So even though i never missed a payment the interest was eating up the monthly $600 payment.

Now i am on pace to make about 100k and hopefully will have rest of loans gone before June 2017.

i have 15,000 left and it is my only debt but surprisingly my credit score is still 820.

Bracken_Joy

  • Walrus Stache
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Re: Paid off 41,000 to student loans in 12.5 months
« Reply #1 on: June 14, 2016, 10:18:20 AM »
Well done! And those are high rates for SLs, good job on killing them! So close. How's your motivation holding up for the home stretch?

boyerbt

  • Bristles
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  • Location: Ohio
Re: Paid off 41,000 to student loans in 12.5 months
« Reply #2 on: June 14, 2016, 10:19:47 AM »
Congrats - Keep knocking out that debt! $41k in almost 12 months is awesome.

Did you sell anything to make that happen or all from your salary?

Steve Rogers

  • 5 O'Clock Shadow
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  • Posts: 38
  • Age: 36
  • Location: Hoboken
Re: Paid off 41,000 to student loans in 12.5 months
« Reply #3 on: June 14, 2016, 12:14:34 PM »
Well done! And those are high rates for SLs, good job on killing them! So close. How's your motivation holding up for the home stretch?

It's still really high! I think it has to do with seeing all the successful people on the forum and knowing what my goals are have helped tremendously.

Steve Rogers

  • 5 O'Clock Shadow
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  • Posts: 38
  • Age: 36
  • Location: Hoboken
Re: Paid off 41,000 to student loans in 12.5 months
« Reply #4 on: June 14, 2016, 12:15:37 PM »
Congrats - Keep knocking out that debt! $41k in almost 12 months is awesome.

Did you sell anything to make that happen or all from your salary?

thanks! Its all from salary. I am in sales so i have had a few great commission periods.