Author Topic: Student Loans Eliminated  (Read 5886 times)

sibamor

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Student Loans Eliminated
« on: December 03, 2013, 08:17:02 AM »
December 1st paid/wrote my last check on student loans.  In 2013 paid $23,333 (37% of our income), since Jan 2011 $42,970 total. I tackled this monster and avoided paying 13,344 future interest payments (15 year planned payoff period originally). And now for 2014 I am planning a 24% savings rate (on 1 income currently). And all this while owning 2 houses (trying to rent 1 out), a horse, 2 dogs, and a recent move across the country.
« Last Edit: December 05, 2013, 07:46:45 AM by sibamor »

Cinder

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Re: Student Loans Eliminated
« Reply #1 on: December 03, 2013, 09:07:30 AM »
Congratulations! 

fallstoclimb

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Re: Student Loans Eliminated
« Reply #2 on: December 03, 2013, 10:39:30 AM »
This is awesome.  You are my hero. 

Fireman

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Re: Student Loans Eliminated
« Reply #3 on: December 03, 2013, 10:42:38 AM »
a horse

AKA:  4-legged money pit.  Awesome job!

lifejoy

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Re: Student Loans Eliminated
« Reply #4 on: December 03, 2013, 11:46:49 AM »
I just paid mine off, too!! WOOO! Way to go :)

Gerard

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Re: Student Loans Eliminated
« Reply #5 on: December 03, 2013, 04:39:50 PM »
Just paid off mine last fall. What a good feeling. It's this generation's equivalent of a mortgage burning party!

randymarsh

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Re: Student Loans Eliminated
« Reply #6 on: December 03, 2013, 06:15:17 PM »
It's this generation's equivalent of a mortgage burning party!

Is it lame I actually want to throw a party when I finish mine?

nikki

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Re: Student Loans Eliminated
« Reply #7 on: December 03, 2013, 06:19:44 PM »
Huzzah!

When I paid off my student loans last year, I celebrated by buying a pretty cake and smashing my face in it.

I was alone, so that was weird maybe, but I took some pictures!

Zamboni

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Re: Student Loans Eliminated
« Reply #8 on: December 03, 2013, 07:30:19 PM »
December 1st paid wrote my last check on student loans.  In 2013 paid $23,333 (37% of our income), since Jan 2011 $42,970 total. I tackled this monster and avoided paying 13,344 future interest payments (15 year planned payoff period originally). And now for 2014 I am planning a 24% savings rate (on 1 income currently). And all this while owning 2 houses (trying to rent 1 out), a horse, 2 dogs, and a recent move across the country.

Hooray!  Congrats. 

(Nikki, you crack me up.  That looks like it was really fun.)

ShortInSeattle

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Re: Student Loans Eliminated
« Reply #9 on: December 03, 2013, 07:38:47 PM »
Huzzah! :)

SwordGuy

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Re: Student Loans Eliminated
« Reply #10 on: December 03, 2013, 08:25:46 PM »
Congrats!

sibamor

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Re: Student Loans Eliminated
« Reply #11 on: December 03, 2013, 08:38:16 PM »
Horse=Money Pit. You're telling me!  But it is something that makes the wife extremely happy. She is actually good enough that she could be a trainer. My goal is to get her to do it as a hobby/part time job so that I can deduct some expenses on my taxes.

dude

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Re: Student Loans Eliminated
« Reply #12 on: December 04, 2013, 07:53:04 AM »
Congrats!  I am JEALOUS!  On track to eliminate mine in the next 4.5 years (maybe earlier if I go full Mustachian).  Just cannot wait until that day -- will celebrate in some appropriate fashion.

Nikki, that's hilarious!

Exflyboy

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Re: Student Loans Eliminated
« Reply #13 on: December 04, 2013, 02:22:54 PM »
Awesome.. Great job!

Nikki.. Your nuts!..I love it..:)

Frank

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Re: Student Loans Eliminated
« Reply #14 on: December 04, 2013, 05:04:45 PM »
Congrats! Paying off those student loans is a HUGE success :)

toodleoo

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Re: Student Loans Eliminated
« Reply #15 on: December 04, 2013, 08:15:05 PM »
That is awesome, congrats!

irrational

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Re: Student Loans Eliminated
« Reply #16 on: December 04, 2013, 10:51:04 PM »
Congrats! That must be such a great feeling to be free from student loans!

I despise mine. But at 2.9%, mine are at the bottom of my "hit list", lol.

gooki

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Re: Student Loans Eliminated
« Reply #17 on: December 04, 2013, 11:09:10 PM »
Well done.

reginna

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Re: Student Loans Eliminated
« Reply #18 on: December 05, 2013, 08:10:21 AM »
December 1st paid/wrote my last check on student loans.  In 2013 paid $23,333 (37% of our income), since Jan 2011 $42,970 total. I tackled this monster and avoided paying 13,344 future interest payments (15 year planned payoff period originally). And now for 2014 I am planning a 24% savings rate (on 1 income currently). And all this while owning 2 houses (trying to rent 1 out), a horse, 2 dogs, and a recent move across the country.

You are a true badass!

KatieSSS

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Re: Student Loans Eliminated
« Reply #19 on: December 05, 2013, 02:59:38 PM »
Way to be a badass, sibamor!

Nikki - now I have the perfect way to celebrate my own loan payoff! Cake in face. Winning.

jfer_rose

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Re: Student Loans Eliminated
« Reply #20 on: December 05, 2013, 03:12:06 PM »
It's this generation's equivalent of a mortgage burning party!

Is it lame I actually want to throw a party when I finish mine?

I threw a party when I paid off my student loans a couple of years ago. I think it is a great cause for celebration! Celebrate whichever way feels best to you. I do love the face in cake way, but a party was what felt right to me at the time.