Student loan debt - vanquished!

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KeepItSimple78
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Student loan debt - vanquished!

Post by KeepItSimple78 » Fri Mar 03, 2017 1:11 am

Happy to share that my wife and I made the last payment on student loans that we'll ever make a few days ago. At it's highest point the total loomed large at 170k+... but we had a plan to attack them aggressively, and 30 months later we reduced the balances to 0. We plan to continue to live below our means in hopes of securing our financial future and perhaps exploring purchase of our first home in the not-too-distant future.

This community has been a great resource, thanks Bogleheads.
Avid reader of personal finance/investing literature; however, no formal training in this area. My comments are always well-intended, and most often well-informed.

Vanguard Fan 1367
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Re: Student loan debt - vanquished!

Post by Vanguard Fan 1367 » Fri Mar 03, 2017 1:20 am

Congratulations! I have some loved ones overwhelmed with student debt. Maybe I can talk them into considering the advice found here.

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Tyrobi
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Re: Student loan debt - vanquished!

Post by Tyrobi » Fri Mar 03, 2017 1:27 am

Congrats!

I started out at -50k. It took me about 10 years to get rid of it. Life becomes simpler with less debts. Good job on paying it off way early.
Three-fund portfolio | "Simplicity is the master key to financial success." John C. Bogle

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White Coat Investor
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Re: Student loan debt - vanquished!

Post by White Coat Investor » Fri Mar 03, 2017 2:39 am

Great job! Well done.
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oldcomputerguy
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Re: Student loan debt - vanquished!

Post by oldcomputerguy » Fri Mar 03, 2017 6:20 am

KeepItSimple78 wrote:Happy to share that my wife and I made the last payment on student loans that we'll ever make a few days ago. At it's highest point the total loomed large at 170k+... but we had a plan to attack them aggressively, and 30 months later we reduced the balances to 0. We plan to continue to live below our means in hopes of securing our financial future and perhaps exploring purchase of our first home in the not-too-distant future.

This community has been a great resource, thanks Bogleheads.
:sharebeer
"I’ve come around to this: If you’re dumb, surround yourself with smart people; and if you’re smart, surround yourself with smart people who disagree with you." (Aaron Sorkin)

blueman457
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Re: Student loan debt - vanquished!

Post by blueman457 » Fri Mar 03, 2017 6:27 am

Congratulations!

guitarguy
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Re: Student loan debt - vanquished!

Post by guitarguy » Fri Mar 03, 2017 8:07 am

I should make my own thread...but I'll continue to just post on others! hahaha

We wiped out the last $5k of our $83k total yesterday. To quote Ice Cube, "today was a good day" for us as well.

Such an amazing feeling!

:sharebeer

Lou354
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Re: Student loan debt - vanquished!

Post by Lou354 » Fri Mar 03, 2017 10:05 am

Congratulations! Feels good, doesn't it?

Texanbybirth
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Re: Student loan debt - vanquished!

Post by Texanbybirth » Fri Mar 03, 2017 10:08 am

Whoa, that's fantastic! Take your wife out for a little celebratory dinner, just on the "edge" of your means. :P :beer
Old Tom Bombadil is a merry fellow, | Bright blue his jacket is, and his boots are yellow. | None has ever caught him yet, for Tom, he is the master: | His songs are stronger songs, and his feet are faster.

WestTechsan
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Re: Student loan debt - vanquished!

Post by WestTechsan » Fri Mar 03, 2017 10:18 am

Congratulations OP! I recall how good it felt getting our students loans paid off early, celebrate the achievement.

Carson
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Re: Student loan debt - vanquished!

Post by Carson » Fri Mar 03, 2017 11:45 am

Congratulations. Keep up the great work!
30-something personal finance enthusiast, just get getting started on this whole portfolio thing.

hille141
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Re: Student loan debt - vanquished!

Post by hille141 » Fri Mar 03, 2017 11:54 am

Congratulations and well done. That's a lot of debt to wipe out in a short period of time. Now you have a solid financial footing to save up a good down payment to purchase a house and begin investing.

I can certainly relate. We are have ~$5700 left of $95k in SLs paid off over the last 18 months. It requires a lot of self discipline and sacrifice but is worth it in the end.

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Raymond
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Re: Student loan debt - vanquished!

Post by Raymond » Fri Mar 03, 2017 11:58 am

Excellent! :sharebeer
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Tabaxus
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Re: Student loan debt - vanquished!

Post by Tabaxus » Fri Mar 03, 2017 12:20 pm

Congratulations! When I graduated in 2011/2012, I had about $150-$160k (I honestly can't remember now). I worked a lower-paid gig my first year out (and then got a significant pay bump for my second and subsequent years). Made the last payment using my 2014 bonus check. So, not as good as you. That's really impressive.

I've had greater moments in my life--like meeting my wife, my wedding day, and the day I got hired for the job that made the payoff possible--but making that payment is still really high on the list. It's impossible to overstate how much incremental freedom it buys you.

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ERMD
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Re: Student loan debt - vanquished!

Post by ERMD » Fri Mar 03, 2017 1:18 pm

congratulations! hopefully we'll be there too sometime before the rapture. :mrgreen:
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JupiterJones
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Re: Student loan debt - vanquished!

Post by JupiterJones » Fri Mar 03, 2017 3:48 pm

Awesome!

I love how you used the word "vanquished". Makes me imagine standing over a slain dragon with a sword... which is probably how you feel right now!

:sharebeer
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Topic Author
KeepItSimple78
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Re: Student loan debt - vanquished!

Post by KeepItSimple78 » Fri Mar 03, 2017 5:12 pm

Thanks all.

And yes, Lou354, it feels terrific. :happy
Avid reader of personal finance/investing literature; however, no formal training in this area. My comments are always well-intended, and most often well-informed.

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bottlecap
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Re: Student loan debt - vanquished!

Post by bottlecap » Fri Mar 03, 2017 5:43 pm

Congrats! Very impressive.

seamonkey
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Re: Student loan debt - vanquished!

Post by seamonkey » Sat Mar 04, 2017 12:36 am

Nice work! It'll feel just as good years from now!

app1
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Re: Student loan debt - vanquished!

Post by app1 » Sat Mar 04, 2017 1:36 am

:sharebeer

Congratulations! Feels like a huge weight off your back.

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