$175k student loan is paid off!

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DrPeppaPig
Posts: 23
Joined: Sun Mar 10, 2013 1:38 pm

$175k student loan is paid off!

Post by DrPeppaPig »

I just made the final payment and it feels great!

:beer :beer :beer
Last edited by DrPeppaPig on Fri Mar 14, 2014 12:39 pm, edited 2 times in total.
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avenger
Posts: 963
Joined: Mon Dec 02, 2013 11:11 am

Re: Student loan is paid off!

Post by avenger »

Congrats! I have made $12,000 in student loan payments so far this month. Highest interest rate is only 3.41%, but I have a lot further to go than you!
Last edited by avenger on Fri Mar 14, 2014 12:52 pm, edited 1 time in total.
cheers ... -Mark | "Our life is frittered away with detail. Simplify. Simplify." -Henry David Thoreau | [VTI, VXUS, BND, VTEB, SV fund]
SubieGirl14
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Joined: Wed Mar 12, 2014 9:50 am

Re: $175k student loan is paid off!

Post by SubieGirl14 »

That's impressive, congrats!!! :beer
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SecretAsianMan
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Re: $175k student loan is paid off!

Post by SecretAsianMan »

[(removed) --admin LadyGeek] Congrats!
fareastwarriors
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Re: $175k student loan is paid off!

Post by fareastwarriors »

Congrats! :beer
moto112233
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Joined: Sun Feb 10, 2013 12:48 pm

Re: $175k student loan is paid off!

Post by moto112233 »

Great news; congrats!!
MikeinNJ
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Joined: Thu Jan 16, 2014 7:54 am

Re: $175k student loan is paid off!

Post by MikeinNJ »

Congrats! I just paid my $13k loan off this past Wednesday! I'm currently celebrating in Atlantic City. 175k.. wowww.. :sharebeer
nostalgic
Posts: 41
Joined: Fri Jan 31, 2014 5:27 am

Re: $175k student loan is paid off!

Post by nostalgic »

Fantastic news!

Where are you planning to divert the money from now on: retirement, 529, iBonds, mortgage? Do tell.
FredCouples
Posts: 104
Joined: Wed Feb 24, 2010 4:56 pm
Location: Miami Lakes, Florida

Re: $175k student loan is paid off!

Post by FredCouples »

Congrats that is awesome.

Was curious how long it took and what method you used? Debt Snowball?

What kind of sacrifices did you make?

Damn, that must be a great weight lifted off you.

Now you have your freedom back.
nfs
Posts: 131
Joined: Wed Jan 22, 2014 3:32 pm

Re: $175k student loan is paid off!

Post by nfs »

Way to go! That must feel great!
Jerrybaby
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Joined: Wed Dec 11, 2013 4:36 pm

Re: $175k student loan is paid off!

Post by Jerrybaby »

That's great! Do you go crazy with the extra monthly spend, or do you go Bogle with it?
IlliniDave
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Joined: Fri May 17, 2013 7:09 am

Re: $175k student loan is paid off!

Post by IlliniDave »

Congrats! I can't imagine it's not a big relief to be out from under that.
Don't do something. Just stand there!
Shredder
Posts: 216
Joined: Sat Jan 11, 2014 12:00 am

Re: $175k student loan is paid off!

Post by Shredder »

Great job! How did you go about it? I'll pass along any tips you have to my sister. She has 48k coming out of her masters this spring.

Congrats again!
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Kevin21
Posts: 205
Joined: Tue Jun 21, 2011 9:54 pm

Re: $175k student loan is paid off!

Post by Kevin21 »

Awesome!! Now time to do it again, but paying your own savings off.
DireWolf
Posts: 335
Joined: Mon May 04, 2009 4:53 pm

Re: $175k student loan is paid off!

Post by DireWolf »

:sharebeer

Get ready for the best sleep you've ever had. Last year I finished paying off $250k in student loans and just paid off the mortgage last month. Despite advice to contrary, easily the best 2 decisions I've ever made. Not owing anyone a single dime is indeed priceless.

Sweet dreams.
tram
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Joined: Thu Feb 20, 2014 8:03 pm

Re: $175k student loan is paid off!

Post by tram »

success!
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kramer
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Location: World Traveler

Re: $175k student loan is paid off!

Post by kramer »

DrPeppaPig wrote:I just made the final payment and it feels great!

:beer :beer :beer
That's great! It must be a good feeling :happy

Paying off my school loans in full was one of the biggest financial moments of my life and I remember it well.
socraticbogler
Posts: 49
Joined: Wed Nov 21, 2012 9:37 am

Re: $175k student loan is paid off!

Post by socraticbogler »

Congratulations! I remember when we paid off our school loans. It's such deep pride... :)
investfell
Posts: 7
Joined: Thu Mar 13, 2014 4:27 pm

Re: $175k student loan is paid off!

Post by investfell »

WOW... Congrats! My $30,000 student loan will be paid off in a couple months.
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JonnyDVM
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Location: Atlanta, GA

Re: $175k student loan is paid off!

Post by JonnyDVM »

Congratulations. I plan to be posting the same thing next year. It's sad that an education costs so much, and I think a lot of posters here don't understand the financial burden a person is now obligated to take on in order to get an advanced education. You have done well to be able to pay it off. Many of our colleagues will never be able to. You should be proud.

:sharebeer
I’d trade it all for a little more | -C Montgomery Burns
inbox788
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Joined: Thu Mar 15, 2012 5:24 pm

Re: $175k student loan is paid off!

Post by inbox788 »

investfell wrote:WOW... Congrats! My $30,000 student loan will be paid off in a couple months.
Congratulations to both of you!!

$205,000 down, another $1 trillion to go.

http://www.businessweek.com/articles/20 ... ot-economy
Topic Author
DrPeppaPig
Posts: 23
Joined: Sun Mar 10, 2013 1:38 pm

Re: $175k student loan is paid off!

Post by DrPeppaPig »

Jerrybaby wrote:That's great! Do you go crazy with the extra monthly spend, or do you go Bogle with it?
nostalgic wrote:Fantastic news!
Where are you planning to divert the money from now on: retirement, 529, iBonds, mortgage? Do tell.
We are opening a taxable account and might make some extra mortgage payments. We also hope to buy a lake cabin in the next 5-10 years so we’ll start saving for that.

FredCouples wrote:Congrats that is awesome.
Was curious how long it took and what method you used? Debt Snowball?
What kind of sacrifices did you make?
Damn, that must be a great weight lifted off you.
Now you have your freedom back.
I made the first payment on June 16th, 2010 and focused on paying off the higher interest loan first. I then rolled that payment into the lower interest loan. The monthly payments were $467 and $300 and I used quarterly production adjustments to pay off large chunks.
Our biggest sacrifice, if you want to call it that, is that we drive older, high mileage vehicles (2001 Sequoia with 215K miles that I bought for $3,000, 2005 Sienna with 111K and a 2007 RDX with 77K). We now plan to upgrade to a newer Sienna. We also rented for a year and half before buying a house and were able to make a big dent in the loans during that time.
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