Author Topic: Student Loan Challenge (2017 Edition)  (Read 16880 times)

Ms Maggie

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Re: Student Loan Challenge (2017 Edition)
« Reply #150 on: October 13, 2017, 05:06:02 AM »
Happy Fall everyone!

Such great progress on here! And congratulations on being finished, OthalaFehu!

Update:

Student Loan total Aug 2016: 41,000
Student Loan total June 2017: 24,005
Student Loan total August 2017: 18,561
Student Loan total October 2017: 15,222
Goal for 2017: down to 14,500 - Looks like I'll surpass this! huzzah!

Loan 1: 7,954 @ 6.55%
Loan 2: 0       @ 6.55%
Loan 3: 922 @ 6.55%
Loan 4: 6,346 @ 5.16%

Cezilous

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Re: Student Loan Challenge (2017 Edition)
« Reply #151 on: October 16, 2017, 10:24:17 AM »
1/2016:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $3,008 (1.95%, original amount: $13,000)
Loan 3: $6,213 (2.5%, original amount: $13,500)

3/2016:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $942 (2.20%, original amount: $13,000)
Loan 3: $6,091 (2.75%, original amount: $13,500)

12/2016:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, from 8% at start and 2.2% at end)
Loan 3: $5,537 (2.75%, original amount: $13,500)

2/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $5,427 (3.00%, original amount: $13,500)

5/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $3,401 (3.25%, original amount: $13,500)

9/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $1,644 (3.50%, original amount: $13,500) -->OMG just be gone already you ball & chain!


10/16/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $149.40 (3.50%, original amount: $13,500) I can't believe it's going to be gone by month end.  I paid $1,500 this month, and oh my god I'm almost there..

eightyeighttoone

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Re: Student Loan Challenge (2017 Edition)
« Reply #152 on: October 16, 2017, 10:35:00 PM »
January Balance: 47,356 
June Balance:     39,812
July Balance:    36,450
Sept. Balance: 31,636
Oct Balance:   29,968

It feels good to be in the 20s!

tanzee

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Re: Student Loan Challenge (2017 Edition)
« Reply #153 on: October 18, 2017, 11:24:34 AM »
Alright, it's a little late in the year to join, but I need some structure and motivation, so I'm going to stop lurking on this thread and actually partake.  I've made a lot of progress on my loans, but I'm back in school at the moment.  I have continued to make extra payments, despite living on a meager graduate stipend and some fairly low paying part-time work.  Lately, due to some unexpected expenses and an unwise purchase, I haven't been able to pay on these loans and it has been eating away at me. 

The situation:

The loans are in deferment because I'm in school.  Moreover, the government pays half of my interest for the time being (so the listed interest rates aren't what I'm paying at the moment).  I would ideally like to have them paid off by the end of 2018, but that really depends on some outside factors related to work, in addition to my spending choices. 

Loan 1: 4217.12  @  5.16%
Loan 2: 1804.94  @  5.16%
Loan 3: 10163.95  @  5.31%

Total: 16,186.01

recklesslysober

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Re: Student Loan Challenge (2017 Edition)
« Reply #154 on: October 20, 2017, 06:05:42 PM »
$101,800 August
$99,700 September
$94,900 October

Aiming to be at around $87k by the end of the year which would be over $31,000 principal paid (about $35,000 total). Hopefully just 2 more years left and I can start 2020 by giving myself a MASSIVE raise from no longer needing to make these student loan payments.

appleseed

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Re: Student Loan Challenge (2017 Edition)
« Reply #155 on: October 23, 2017, 09:05:58 PM »
I know we are winding up 2017, but I wanted to jump in here and join. You all are inspiring and motivating me!

This summer I started using personal capital to track our accounts, and I am really obsessing over my husband's student loans. Any extra income has been going to his SEP account (around 75%) and the remainder to these loans.

Here's what we have:

DB1 - 2.5% - $6,506.81 (monthly payment - $181.98)
DB2 - 2.5% - $6,937.92 (monthly payment - $194.03)
N1 - 2.625% - $7,130.70 (monthly payment - $91.08) *
N2 - 2.625%  - $6,230.26 (monthly payment - $79.59) *

Current total - $26,805.69 (Minimum monthly payment - $546.68)
* extra payment is split between these two loans

My plan is an additional $500/month, and I'd like to start 2018 at $23,XXX. With this plan, it looks like we'll have them all paid off by November 2019 at the latest, and hopefully I will get be able to snowball some more funds toward the loans as the balances get even lower.

JanetJackson

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Re: Student Loan Challenge (2017 Edition)
« Reply #156 on: October 24, 2017, 06:17:59 AM »
Ok, I want to jump on board for the last few months of 2017, and go into 2018.

Here's my sitch:
  
Student Loan #1 = $11,000 at 1.9%
Student Loan #2 = $3,200 at 2.3%

Min. combined payment $152.

TOTAL: 14200


Net worth: $7.00, I have $14207 in savings and investments.

I THINK I can put an extra $100 each month toward my loans through 2018, which would chip away an additional $1500.00.  I know that's not much, but it's a doable reality for me.
 
I make ABOUT 35k/yr if I add the day job to all of my side jobs.  I can very comfortably live off of ABOUT 20-22k.  I can strain a smidge to 15-17k or so, bare-bones.
 
I'm STILL in school, but paying cash and have 9 (might be able to fight to get it to 7) classes left to finish my stupid undergrad- it'll cost be about 10-12k for the rest of my schooling, not counting books, etc and I am NON STOP almost talking myself out of even finishing... but a Bachelors is treated like a High School diploma these days and MINIMUM for a decent job in my field (non-profit work).

Cezilous

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Re: Student Loan Challenge (2017 Edition)
« Reply #157 on: October 24, 2017, 09:51:45 AM »
1/2016:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $3,008 (1.95%, original amount: $13,000)
Loan 3: $6,213 (2.5%, original amount: $13,500)

3/2016:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $942 (2.20%, original amount: $13,000)
Loan 3: $6,091 (2.75%, original amount: $13,500)

12/2016:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, from 8% at start and 2.2% at end)
Loan 3: $5,537 (2.75%, original amount: $13,500)

2/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $5,427 (3.00%, original amount: $13,500)

5/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $3,401 (3.25%, original amount: $13,500)

9/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $1,644 (3.50%, original amount: $13,500) -->OMG just be gone already you ball & chain!

10/16/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $149.40 (3.50%, original amount: $13,500) I can't believe it's going to be gone by month end.  I paid $1,500 this month, and oh my god I'm almost there..

10/20/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $0 (paid off 10/20/2017, started at $13,500 @ variable rate, 3.50% at end)

I'm done with my student debt!!  Woohoo!  Thank you for the group support in this thread to get my butt moving!  :D  I'm still in disbelief.  Once that letter arrives in the mail, I'm framing the dang thing!

appleseed

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Re: Student Loan Challenge (2017 Edition)
« Reply #158 on: October 24, 2017, 06:13:23 PM »
1/2016:

I'm done with my student debt!!  Woohoo!  Thank you for the group support in this thread to get my butt moving!  :D  I'm still in disbelief.  Once that letter arrives in the mail, I'm framing the dang thing!

Fantastic! I am not sure what we'll do to celebrate, but I am thinking about how I can invest the money I'm currently sending to the student loan companies!

Jim Fiction

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Re: Student Loan Challenge (2017 Edition)
« Reply #159 on: October 24, 2017, 08:30:09 PM »
1/2016:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $3,008 (1.95%, original amount: $13,000)
Loan 3: $6,213 (2.5%, original amount: $13,500)

3/2016:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $942 (2.20%, original amount: $13,000)
Loan 3: $6,091 (2.75%, original amount: $13,500)

12/2016:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, from 8% at start and 2.2% at end)
Loan 3: $5,537 (2.75%, original amount: $13,500)

2/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $5,427 (3.00%, original amount: $13,500)

5/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $3,401 (3.25%, original amount: $13,500)

9/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $1,644 (3.50%, original amount: $13,500) -->OMG just be gone already you ball & chain!

10/16/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $149.40 (3.50%, original amount: $13,500) I can't believe it's going to be gone by month end.  I paid $1,500 this month, and oh my god I'm almost there..

10/20/2017:
Loan 1: $0 (paid off 9/30/2014, started at $8,500 @ 6.8%)
Loan 2: $0 (paid off 4/7/2016, started at $13,000 @ variable rate, 2.2% at end)
Loan 3: $0 (paid off 10/20/2017, started at $13,500 @ variable rate, 3.50% at end)

I'm done with my student debt!!  Woohoo!  Thank you for the group support in this thread to get my butt moving!  :D  I'm still in disbelief.  Once that letter arrives in the mail, I'm framing the dang thing!

Congrats!

K-12FI

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Re: Student Loan Challenge (2017 Edition)
« Reply #160 on: October 25, 2017, 08:33:55 PM »
In the process of training for new teacher certification; if all goes well, I'll destroy my commute and be able to walk (currently 30 mi), get a $5k increase, and be eligible for an additional 17.5K forgiven.

Math test, here I come!


So I did certify for math; however, I switched districts, and left the Math behind to return to High School English... which meant I can only get 5.5K forgiven.

However, this month I just made my last out of pocket loan payment! So long as I teach one more year, all my outstanding loans will be forgiven May 2019!!!

Starting Balance: $32,271.47 (Dec 2014)
Original Payments: $346.21
Extra Payments started: ~12 months ago.
Extra Payments total (11/16-10/17): $17,465
Original Payments (11/16-10/17): $4154.52



10/20/2017   Payment   $1,650.00   $4,699.50 -  Current Outstanding Balance to be forgiven
10/17/2017   Payment   $1,025.00   $6,345.87
10/16/2017   Payment   $840.00   $7,364.85
10/06/2017   Payment   $600.00   $8,203.46
10/01/2017   Payment   $108.64   $8,776.78
09/14/2017   Payment   $411.26   $8,776.78
09/05/2017   Payment   $3,665.26   $9,184.30   
08/21/2017   Payment   $2,889.63   $12,814.54
07/17/2017   Payment   $1,799.08   $15,676.33
07/11/2017   Payment   $38.70   $17,473.72
06/01/2017   Payment   $62.31   $17,436.44
04/20/2017   Payment   $5.00   $17,438.49
04/17/2017   Payment   $1,025.00   $17,442.62
04/14/2017   Payment   $0.25   $18,453.12
04/14/2017   Payment   $1,948.53   $18,453.12
03/15/2017   Payment   $346.21   $20,391.25
03/15/2017   Payment   $40.64   $20,656.98
03/15/2017   Payment   $1,438.89   $20,693.30
02/10/2017   Payment   $264.11   $22,123.16
02/08/2017   Payment   $1,127.00   $22,328.62
01/15/2017   Payment   $346.21   $23,437.65
01/13/2017   Payment   $785.00   $23,694.77
12/15/2016   Payment   $346.21   $24,472.53
12/09/2016   Payment   $661.78   $24,728.36
12/09/2016   Payment   $68.22   $25,390.14
11/15/2016   Payment   $346.21   $25,451.27
11/07/2016   Payment   $619.20   $25,700.40
11/07/2016   Payment   $110.80   $26,319.60

« Last Edit: October 25, 2017, 08:38:34 PM by TMInsall »

Jim Fiction

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Re: Student Loan Challenge (2017 Edition)
« Reply #161 on: October 28, 2017, 10:21:29 AM »
I'll be jumping in on the challenge this year.

Loan 1: $1,050 @ 0.40%
Loan 2: $3,900 @ 2.15%
Loan 3: $13,225 @ 4.50%
Loan 4: $15,050 @ 4.78%

Total: $33,225

Loan 4 must die in 2017. Should I finish early (doubtful), I will start working on loan 3.

Best of luck to everyone!

Update to post SEPTEMBER Payments:

Loan 1: $600 $560 @ 0.40%
Loan 2: $3,100 $3,033 @ 2.15%
Loan 3: $12,875 $12,861 @ 4.50%
Loan 4: $3,400 $1,651 @ 4.99%

Total: $19,975 $18,105


October payments are in the books. I really considered paying off loan 4 entirely this month, however it would have put a larger dent into my savings than I felt comfortable with. Plus I do have to a little year end tax planning soon, so I need to retain some flexibility. Still, one month to go!

JustGettingStarted1980

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Re: Student Loan Challenge (2017 Edition)
« Reply #162 on: October 28, 2017, 02:27:56 PM »
1/1/16 -$83265.16 in loans (his and hers combined)
4/1/16 -$75413.33
6/9/16 -$68071.59
9/5/16 -$43756.91 (DW loans entirely paid off)
10/28/17 -$18202.15 ->slow and steady, with a 7.5 K bonus payment this month. Stretch goal is paid off by May 2018

JGS

GetItRight

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Re: Student Loan Challenge (2017 Edition)
« Reply #163 on: October 29, 2017, 03:21:53 PM »
1$04.99%
2$06.00%
3$04.75%
4$63,830.744.50%
401k$4,210.144.25%
Total: $68,040.88
Paid since 11/10/2016: $9,274.70
$/day since 11/10/2016: $27.69

I had a bad year. Some externalities (government) forced me to spend about $30k elsewhere this year. I have about another $10k to go before that is over, but should have that done by the end of the year. That means next year I should have at least an additional $40k or so to put towards student loans if I really want to. Realistically I'll split it between student loans and building the war chest back up.

1$04.99%
2$06.00%
3$04.75%
4$63,456.754.55%
401k$3,920.064.25%
Total: $67,376.81
Paid since 10/10/2017: $752.09
$/day since 10/10/2017: $37.60

Not much progress directly on the student loans, but I'm getting into a better position. That other $10k I paid off, $10,771.27 since 10/10. I'm not happy with the bank I have the big student loan with so I'm looking at refi options. Hoping to have it done in the next week or two and under 3%.

appleseed

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Re: Student Loan Challenge (2017 Edition)
« Reply #164 on: November 01, 2017, 10:51:51 AM »
Here's what we have:

DB1 - 2.5% - $6,506.81 (monthly payment - $181.98)
DB2 - 2.5% - $6,937.92 (monthly payment - $194.03)
N1 - 2.625% - $7,130.70 (monthly payment - $91.08) *
N2 - 2.625%  - $6,230.26 (monthly payment - $79.59) *

Current total - $26,805.69 (Minimum monthly payment - $546.68)
* extra payment is split between these two loans

Goal - start 2018 at $23,XXX (all paid off by November 2019)

Rest of October updates (extra $250 plus regular payment)

DB1 - 2.5% - $6,329.44 (monthly payment - $181.98)
DB2 - 2.5% - $6,748.80 (monthly payment - $194.03)
N1 - 2.625% - $6,910.72 (monthly payment - $91.08)
N2 - 2.625%  - $6,038.44 (monthly payment - $79.59

November starting total - $26,027

I might send  an extra $50 over just to get the starting at $25k. Psychologically I think it encourages me!



tanzee

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Re: Student Loan Challenge (2017 Edition)
« Reply #165 on: November 01, 2017, 12:44:54 PM »
In the process of training for new teacher certification; if all goes well, I'll destroy my commute and be able to walk (currently 30 mi), get a $5k increase, and be eligible for an additional 17.5K forgiven.

Math test, here I come!


So I did certify for math; however, I switched districts, and left the Math behind to return to High School English... which meant I can only get 5.5K forgiven.

However, this month I just made my last out of pocket loan payment! So long as I teach one more year, all my outstanding loans will be forgiven May 2019!!!

Starting Balance: $32,271.47 (Dec 2014)
Original Payments: $346.21
Extra Payments started: ~12 months ago.
Extra Payments total (11/16-10/17): $17,465
Original Payments (11/16-10/17): $4154.52



10/20/2017   Payment   $1,650.00   $4,699.50 -  Current Outstanding Balance to be forgiven
10/17/2017   Payment   $1,025.00   $6,345.87
10/16/2017   Payment   $840.00   $7,364.85
10/06/2017   Payment   $600.00   $8,203.46
10/01/2017   Payment   $108.64   $8,776.78
09/14/2017   Payment   $411.26   $8,776.78
09/05/2017   Payment   $3,665.26   $9,184.30   
08/21/2017   Payment   $2,889.63   $12,814.54
07/17/2017   Payment   $1,799.08   $15,676.33
07/11/2017   Payment   $38.70   $17,473.72
06/01/2017   Payment   $62.31   $17,436.44
04/20/2017   Payment   $5.00   $17,438.49
04/17/2017   Payment   $1,025.00   $17,442.62
04/14/2017   Payment   $0.25   $18,453.12
04/14/2017   Payment   $1,948.53   $18,453.12
03/15/2017   Payment   $346.21   $20,391.25
03/15/2017   Payment   $40.64   $20,656.98
03/15/2017   Payment   $1,438.89   $20,693.30
02/10/2017   Payment   $264.11   $22,123.16
02/08/2017   Payment   $1,127.00   $22,328.62
01/15/2017   Payment   $346.21   $23,437.65
01/13/2017   Payment   $785.00   $23,694.77
12/15/2016   Payment   $346.21   $24,472.53
12/09/2016   Payment   $661.78   $24,728.36
12/09/2016   Payment   $68.22   $25,390.14
11/15/2016   Payment   $346.21   $25,451.27
11/07/2016   Payment   $619.20   $25,700.40
11/07/2016   Payment   $110.80   $26,319.60

Can I kindly ask what motivated to you make a payment of 25 cents in April?  Just curious. 

Slow&Steady

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Re: Student Loan Challenge (2017 Edition)
« Reply #166 on: November 03, 2017, 12:34:53 PM »
I am currently taking graduate classes on a "life paced" basis so when I am taking a class my loan is in deferment (0% interest).  For every 3-4 months there is usually 1 month in there that the loan is not in deferment.  My interest rate when not in deferment is 7.5%.

Total: 2/18/16 = $16,505.16
        12/27/16 = $10,578.68
         12/2017 = $9,000 - Goal

Goals:  We are probably not going to attack this loan too much this year.  We are planning baby #2 and will be putting all extra money into maternity leave savings, we are a one income family where Dad stays at home.  After we save up enough to not have to worry (or touch other savings) while on leave we will probably put extra into an investment property.

Total: 2/18/16 = $16,505.16 (7.5% when not in deferment)
        12/27/16 = $10,578.68
        01/09/17 = $10,572.09
        02/03/17 = $10,520.53
        03/13/17 = $10,361.96
        04/03/17 = $10,211.96
        04/11/17 = $9,861.96
        05/01/17 = $9,711.96
        06/13/17 = $9,511.96
        08/04/17 = $9,282.67
        09/01/17 = $8,987.95
        10/04/17 = $8,745.04
        11/03/17 = $8,448.85

        12/31/17 = $9,000 $8,000 - Goal

$53.81 in INTEREST this month!!!! GRRR, I want these freaking gone.

K-12FI

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Re: Student Loan Challenge (2017 Edition)
« Reply #167 on: November 03, 2017, 12:58:11 PM »
In the process of training for new teacher certification; if all goes well, I'll destroy my commute and be able to walk (currently 30 mi), get a $5k increase, and be eligible for an additional 17.5K forgiven.

Math test, here I come!


So I did certify for math; however, I switched districts, and left the Math behind to return to High School English... which meant I can only get 5.5K forgiven.

However, this month I just made my last out of pocket loan payment! So long as I teach one more year, all my outstanding loans will be forgiven May 2019!!!

Starting Balance: $32,271.47 (Dec 2014)
Original Payments: $346.21
Extra Payments started: ~12 months ago.
Extra Payments total (11/16-10/17): $17,465
Original Payments (11/16-10/17): $4154.52



10/20/2017   Payment   $1,650.00   $4,699.50 -  Current Outstanding Balance to be forgiven
10/17/2017   Payment   $1,025.00   $6,345.87
10/16/2017   Payment   $840.00   $7,364.85
10/06/2017   Payment   $600.00   $8,203.46
10/01/2017   Payment   $108.64   $8,776.78
09/14/2017   Payment   $411.26   $8,776.78
09/05/2017   Payment   $3,665.26   $9,184.30   
08/21/2017   Payment   $2,889.63   $12,814.54
07/17/2017   Payment   $1,799.08   $15,676.33
07/11/2017   Payment   $38.70   $17,473.72
06/01/2017   Payment   $62.31   $17,436.44
04/20/2017   Payment   $5.00   $17,438.49
04/17/2017   Payment   $1,025.00   $17,442.62
04/14/2017   Payment   $0.25   $18,453.12
04/14/2017   Payment   $1,948.53   $18,453.12
03/15/2017   Payment   $346.21   $20,391.25
03/15/2017   Payment   $40.64   $20,656.98
03/15/2017   Payment   $1,438.89   $20,693.30
02/10/2017   Payment   $264.11   $22,123.16
02/08/2017   Payment   $1,127.00   $22,328.62
01/15/2017   Payment   $346.21   $23,437.65
01/13/2017   Payment   $785.00   $23,694.77
12/15/2016   Payment   $346.21   $24,472.53
12/09/2016   Payment   $661.78   $24,728.36
12/09/2016   Payment   $68.22   $25,390.14
11/15/2016   Payment   $346.21   $25,451.27
11/07/2016   Payment   $619.20   $25,700.40
11/07/2016   Payment   $110.80   $26,319.60

Can I kindly ask what motivated to you make a payment of 25 cents in April?  Just curious.

It was a rounding error for a loan payoff amount; I had them re-appropriate payments and that's how it came out. :/

tanzee

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Re: Student Loan Challenge (2017 Edition)
« Reply #168 on: November 04, 2017, 07:16:15 AM »
In the process of training for new teacher certification; if all goes well, I'll destroy my commute and be able to walk (currently 30 mi), get a $5k increase, and be eligible for an additional 17.5K forgiven.

Math test, here I come!


So I did certify for math; however, I switched districts, and left the Math behind to return to High School English... which meant I can only get 5.5K forgiven.

However, this month I just made my last out of pocket loan payment! So long as I teach one more year, all my outstanding loans will be forgiven May 2019!!!

Starting Balance: $32,271.47 (Dec 2014)
Original Payments: $346.21
Extra Payments started: ~12 months ago.
Extra Payments total (11/16-10/17): $17,465
Original Payments (11/16-10/17): $4154.52



10/20/2017   Payment   $1,650.00   $4,699.50 -  Current Outstanding Balance to be forgiven
10/17/2017   Payment   $1,025.00   $6,345.87
10/16/2017   Payment   $840.00   $7,364.85
10/06/2017   Payment   $600.00   $8,203.46
10/01/2017   Payment   $108.64   $8,776.78
09/14/2017   Payment   $411.26   $8,776.78
09/05/2017   Payment   $3,665.26   $9,184.30   
08/21/2017   Payment   $2,889.63   $12,814.54
07/17/2017   Payment   $1,799.08   $15,676.33
07/11/2017   Payment   $38.70   $17,473.72
06/01/2017   Payment   $62.31   $17,436.44
04/20/2017   Payment   $5.00   $17,438.49
04/17/2017   Payment   $1,025.00   $17,442.62
04/14/2017   Payment   $0.25   $18,453.12
04/14/2017   Payment   $1,948.53   $18,453.12
03/15/2017   Payment   $346.21   $20,391.25
03/15/2017   Payment   $40.64   $20,656.98
03/15/2017   Payment   $1,438.89   $20,693.30
02/10/2017   Payment   $264.11   $22,123.16
02/08/2017   Payment   $1,127.00   $22,328.62
01/15/2017   Payment   $346.21   $23,437.65
01/13/2017   Payment   $785.00   $23,694.77
12/15/2016   Payment   $346.21   $24,472.53
12/09/2016   Payment   $661.78   $24,728.36
12/09/2016   Payment   $68.22   $25,390.14
11/15/2016   Payment   $346.21   $25,451.27
11/07/2016   Payment   $619.20   $25,700.40
11/07/2016   Payment   $110.80   $26,319.60

Can I kindly ask what motivated to you make a payment of 25 cents in April?  Just curious.

It was a rounding error for a loan payoff amount; I had them re-appropriate payments and that's how it came out. :/


Gotcha!  I also occasionally make tiny payments on my loans.  In my case, I do it to maintain a sense of progress even when I'm short on cash. 

haypug16

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Re: Student Loan Challenge (2017 Edition)
« Reply #169 on: November 06, 2017, 10:03:53 AM »
I haven't updated is a long time but now that my Students Loans are in repayment I figure it's time! The balances I think are higher than last time I updated (I didn't feel like looking for my last post) this is due to me not updating the numbers with the interest. So here's my "new" starting balance;
                 
                         Oct 2017
Loan 1 - 6.8%     6,257.24
Loan 2 - 6.8%     9,517.58
Loan 3 - 6.8%   11,066.22
Loan 4 - 5.84%   7,179.51
Loan 5 - 5.375% 7,135.00
Loan 6 - 4.66%   2,592.43
Loan 7 - 4.5%     3,415.17
Loan 8 - 3.86%   5,496.10
Loan 9 - 3.4%     3,940.29
Loan 10 - 3.4%   5,466.07
             Total 62,065.61

Goal for November is $61,465

ontheroaderic

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Re: Student Loan Challenge (2017 Edition)
« Reply #170 on: November 08, 2017, 11:04:52 AM »
3/5/15: $74,618.23 at 5.625% {Starting Balance}
3/5/15: $72,613.01 (- 2005.22)
3/7/15: $72,650.18  (-271.44)
3/9/15: $72,219.94  (-177.6)
4/9/15: $69,889.41 (-2600.00)
5/7/15: $67,086.58 (-3100.00)
6/12/15: $64,281.49 (-3100.00)
7/7/15: $61,917.04 (-2600)
8/7/15: $59,610.78 (-2600)
9/7/15: $57,385.37 (-2600)
10/7/15: $54,931.48 (-2600)
11/13/15: $52,325.25 (-2900)
12/9/15: $49,975.41 (-2600)
1/11/16: $47,557.16 (-2600)
2/7/16: $47,557.16 (-376.81)
3/7/16: $47,451.50 (-376.81)
4/7/16: $45,531.28 (-1941.73)
5/16/16: $$43,161.09  (-2600)
6/8/16: $40,746.42 (-2600)
7/8/16: $38,328.00 (-2600)
8/10/16: $36,104.98 (-2600)
9/8/16 $33,652.74 (-2600)
10/10/16 $29,609.78 (-4038.67)
11/9/16 $27,145.46 (-2600)
12/9/16 $24,662.23 (-2600)
1/13/16 $22,203.78 (-2600)
2/8/17 $19,691.71 (-2600)
3/8/17 $19,463.69  (-312.98)
4/7/17 $16,959.27 (-2600)
5/7/17 $14,435.04 (-2600)
6/7/17 $13,203.99 (-1300)
7/7/17 $11,966.85 (-1300)
8/7/17 $10,725.44 (-1300)
9/7/17 $9,473.36 (-1300)
10/7/17 $8,265.30 (-1300)
11/7/17 $6,995.62 (-1300)

Oh yeah - within striking distance now!

haypug16

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Re: Student Loan Challenge (2017 Edition)
« Reply #171 on: November 08, 2017, 11:29:59 AM »
Oh yeah - within striking distance now!

Nice Job! You're so close.

appleseed

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Re: Student Loan Challenge (2017 Edition)
« Reply #172 on: November 09, 2017, 09:30:59 AM »

11/7/17 $6,995.62 (-1300)

Oh yeah - within striking distance now!

Inspirational progress! How many months left?

ontheroaderic

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Re: Student Loan Challenge (2017 Edition)
« Reply #173 on: November 09, 2017, 11:54:05 AM »
Not exactly sure. We had to reduce our payments to contribute more to wife's 401k - she's on the PSLF program and those payments have ballooned as my balance has shrunk so we need to manage that situation. I'm thinking we'll wait  until we certify for her loan in Jan/Feb, and then just kill mine off in short order. I'm hoping on or before March 28 - my birthday!

Jim Fiction

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Re: Student Loan Challenge (2017 Edition)
« Reply #174 on: November 09, 2017, 07:40:36 PM »
I haven't updated is a long time but now that my Students Loans are in repayment I figure it's time! The balances I think are higher than last time I updated (I didn't feel like looking for my last post) this is due to me not updating the numbers with the interest. So here's my "new" starting balance;
                 
                         Oct 2017
Loan 1 - 6.8%     6,257.24
Loan 2 - 6.8%     9,517.58
Loan 3 - 6.8%   11,066.22
Loan 4 - 5.84%   7,179.51
Loan 5 - 5.375% 7,135.00
Loan 6 - 4.66%   2,592.43
Loan 7 - 4.5%     3,415.17
Loan 8 - 3.86%   5,496.10
Loan 9 - 3.4%     3,940.29
Loan 10 - 3.4%   5,466.07
             Total 62,065.61

Goal for November is $61,465

Forgive me if this has already been addressed, but I noticed some of your interest rates are quite high. Have you looked into refinancing options?

palebluedot

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Re: Student Loan Challenge (2017 Edition)
« Reply #175 on: November 12, 2017, 04:29:55 PM »


Officially done with the 4.41% loan. The last four remain.



Time for my monthly update. I sent a total of $863.20 earlier this week. On pace to finish in about 10-ish more payments.


Jim Fiction

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Re: Student Loan Challenge (2017 Edition)
« Reply #176 on: November 13, 2017, 07:00:07 PM »
So my employer recently announced that they will be working with a company called Gradifi, which offers employer sponsored student loan repayment plans. Details are scant thus far, but some internet research has my interest is piqued. If the plan resembles anything like what I have seen online (employer contributes $X per month, so long as you contribute $Y per month), then it could significantly alter my repayment plans. I want to have my loans paid off by the end of next year, however if my firm will be giving me free money then it probably would make sense to delay full payment to take advantage of the perk. One hang up could be that employer contributions would be considered taxable income, but as long as the post tax amount is greater than what I pay in interest per year it should still make sense to go with the plan.

Anyone else have experience with this?