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#1
May 02, 2016, 06:15 AM
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Just paid off a large chunk of my student loans! I paid $38,000 in full, as I had the money in my bank account.
That $38,000 counts for 41% of my total student loans. So, I paid off 41% of my loans in one fell swoop!  Now all I have left is a $55,000 loan, which I hope to pay off within the next year, as I still have $20k in my bank account. (I basically only need another $35,000... but I don't want to spend any money right away in case I need it.) Then I'll be done forever! (Not bad for someone who just graduated in May 2015.  )Once I pay it off, I can finally move out of my parents' house and buy my own house. Woohoo 
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 fishin fool
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 Anrea
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#2
May 02, 2016, 07:12 AM
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Just out of curiosity... is this the good type of excitement or the kind where your pdoc would want you to call?
I'm not trying to condemn, I'm just a bit worried because $38,000 is a lot of money to pay all at once. Then again, I guess if you got the money... If it's the good kind then congratulations! Well, either way, less student loans is kind of a good thing, so hey, good for you on spending that kind of money on something responsible!
__________________
Bipolar I; ADD Abilify 10mg Escitalopram 20mg Amphetamine Salts 30mg / day Zolpidem 5 - 10mg prn for zzz |
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#3
May 02, 2016, 09:48 AM
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I don't regret it, but I did want to buy a car and I don't really have the money for it since my other loan is $900 a month... And I just bought a bunch of things on Amazon... like 37 pose-able figures for my desk. They look kinda cool, tbh, so I don't regret it Just in the money spending mood I guess Edit: too late to go back anyways, as everything has been processed and taken out of my bank account. But sometimes you have to do what you have to do |
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#4
May 02, 2016, 10:55 AM
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i think this is a great start.
paying stuff off can only be good |
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#5
May 02, 2016, 11:15 AM
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That's a lot of student loans.
Sometimes I feel a little guilty. We sent all three of our kids to community college first. ($1000 a semester) Then for the final two years they lived at home and did the state university. ($5000 a semester) We paid as we went by scrimping. So none had student loans. But they have regular degrees from state schools, nothing fancy. We also helped my daughter with her Masters'. She wound up with a $3000 loan. Sigh.
__________________
Lamictal Rexulti Wellbutrin Xanax XR .5 Xanax .25 as needed |
| fishin fool
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#6
May 02, 2016, 12:56 PM
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Good Grief!! How did you save up all that money??!!
I'm stuck with $70K in student loan debt. Don't ask. 
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#7
May 02, 2016, 12:58 PM
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#8
May 02, 2016, 01:22 PM
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Uhh... my university cost $60,000 a year. Multiply that by 4. LOL Thank god my grad degree was free, but I still had to borrow $20,000 just to live on campus. So, add $20,000 to that. |
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#9
May 02, 2016, 01:23 PM
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How long did it take for you to save that? |
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#10
May 02, 2016, 01:39 PM
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 I've been working full-time since July... so I guess I've saved it up between July 2015 and probably February 2016. I'm a software engineer and it helps that I have a masters I *had* a scholarship for undergrad, but I lost the scholarship after my first semester. I was super depressed and I didn't know why (because I wasn't diagnosed yet), but I got like a 2.0 GPA and needed a 3.0 to maintain the scholarship. So, I pretty much paid $60k for 4 years. |
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#11
May 02, 2016, 01:46 PM
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Working full time and paying rent, utilities...? |
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#12
May 02, 2016, 01:56 PM
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Congratulations! Very proud of you!
__________________
 Bipolar 1Day Vraylar 3 mg. Wellbutrin 150 Night meds Temazepam 30 mg or lorazepam Hasn't helped yet. From sunny California! |
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#13
May 02, 2016, 02:08 PM
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I pay about $90k of the loans... They pay the rest. (So, I'm responsible for 1.5 years worth of my education.) I think my loan was more like $120k, but my parents had been paying it from May 2015 until about September 2015 (as I had no money to pay it with). I'll probably have to pay them back (well, I *should* pay them back because they have their own "parent loan" that my school made them pay). I pay for all my food, health bills, medication, clothes, etc.. That was part of the deal when they let me live with them rent free. |
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#14
May 02, 2016, 02:17 PM
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#15
May 02, 2016, 02:22 PM
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Edit: living on my own would cost me $2000 a month in rent, *excluding* utilities. It's too expensive, and I would never be able to pay off my loans... because I still pay $800 a month in loans. :/ |
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#16
May 02, 2016, 02:26 PM
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Congratulations, BlueBicycle! That's quite an accomplishment. I've also passed a milestone in my savings and it feels great!
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#17
May 02, 2016, 02:34 PM
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#18
May 02, 2016, 03:27 PM
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Did you attend an Ivy League school?
I went to a State University. But just a BA.
__________________
Bipolar 1Day Vraylar 3 mg. Wellbutrin 150 Night meds Temazepam 30 mg or lorazepam Hasn't helped yet. From sunny California! |
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#19
May 02, 2016, 03:29 PM
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No loans though. Lots of scholarships in those days. And student grants. Plus I worked 2 jobs. Took 7 years. But one year in Mexico University.
__________________
Bipolar 1Day Vraylar 3 mg. Wellbutrin 150 Night meds Temazepam 30 mg or lorazepam Hasn't helped yet. From sunny California! |
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#20
May 02, 2016, 05:43 PM
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I think if you're going to spend money paying off debt is a good option lol.
I'm lucky enough that my grandma pays my student loans for me and they are only $250 a month. My grandma helped me pay for college so I only had to take out stafford loans - low interest. I'm going to have to take out loans to help me pay for my special Ed certification but I'm hoping to be eligible for stafford loans again. Right now my biggest problem is medical debt. I have a high deductible and I've been hospitalized every year since getting this insurance so I owe a lot to various places. $1400 here, $1700 there, and about $10,000 to one place over the course of three years. But medical debt is different from student loans. I can pay ten bucks a month and as long as I pay something they leave me alone. I don't ever see myself paying off the big one since I have to keep going back but oh well.
__________________
Of course it is happening inside your head. But why on earth should that mean that it is not real? -Albus Dumbledore That’s life. If nothing else, that is life. It’s real. Sometimes it f—-ing hurts. But it’s sort of all we have. -Garden State |
| gina_re
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| gina_re
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#21
May 02, 2016, 07:14 PM
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#22
May 02, 2016, 07:41 PM
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I was fortunate enough to go to the university back in the old days when an entry level job was enough to pay for a degree. I had a partial scholarship and a work study job my first 2 years then I buckled down and worked a full time job and went full time....but I was manic back then and managed to squeeze a lot of fun in too, sleep who needed it? I had one loan of about $600 or so.
So congrats on paying it off so soon. Hope you can pay the big one off sooner too and save on the interest.
__________________
Nammu …Beyond a wholesome discipline, be gentle with yourself. You are a child of the universe no less than the trees and the stars; you have a right to be here. …... Desiderata Max Ehrmann |
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#23
May 03, 2016, 06:42 AM
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I'm no financial expert, but, if I had $38,000 in the bank, I'd invest it rather than pay off my student loans. But congratulations nevertheless.
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