It is finally over

[tbeak]

After 4.5 years of paying student loans we are sending the last payment in tonight. Married my wife, who had a pretty significant student debt, on Sept 24, 2011. As of tonight 10/20/2015 we will have made all payments to the evil Sallie Mae (Navient) and Great Lakes and be out of the control of these two. It has been a long 4.5 years of paying over 4K a month to get these loans off our back. To not have 180K debt over our heads will be so elevating.


How are we going to celebrate our newfound wealth, do the American thing and go buy a TV.

So that being said, we are looking at a Smart TV and suggestions? looking at least 48"

[sethcros]

Holy cow that's awesome. We have about that much between us, and I probably will retire with student loan debt unless I get a raise or come into some money.

[popup_menace]

Congrats! Definitely not fun having student debt

[tbeak]

when we started my wife was not on board with the Dave Ramsey method. after the first couple got paid off she got the idea of how it works and has been a advocate ever since.

it really does work. obviously but its nice to see it in action.

[tbeak]

Holy cow that's awesome. We have about that much between us, and I probably will retire with student loan debt unless I get a raise or come into some money.

we have made a ton of sacrifices. not doing all the cool stuff our friends are doing, have heard my wife cry several times that we didn't have any money. but now she understands and is in a great mood since today will be the last one!!!

[8pointer]

Congrats on getting the debt paid off! I know that is a major weight taken off!

[Hawkpuppy 1]

Just curious, but what degree(s) did she get with $180k loan debt?

[solocam_aggie]

Wow, that is very impressive! I'm paying extra on mine every month. Good lord willing, I am afforded a career move in a year and able to pay even more down on those loans. I can not wait!

[tbeak]

She had 3 yrs undergrad at Sam Houston and her Pharm D degree from TTU.

[tbeak]

Wow, that is very impressive! I'm paying extra on mine every month. Good lord willing, I am afforded a career move in a year and able to pay even more down on those loans. I can not wait!

Yea we are both blessed that we have good jobs to afford putting that much on them monthly. that and aggressive budgeting.

[baitcaster2009]

Did you pay it off early? Because we did.. Surprise couple years later IRS said we owed them taxes for paying off early

[sethcros]

Another moral of this story is that if you're going to go into student loan debt, make sure the ROI is worth it. Mine wasnt, but I'm working on it.

[gingib]

Big raise

[tbeak]

Did you pay it off early? Because we did.. Surprise couple years later IRS said we owed them taxes for paying off early

Really, that is interesting. Why? I mean since we don't get a tax break on paying any of the interest down.

As far as paying off early, yea we are. we aren't doing their 30 yr mortgage plan

[Speedgoat]

I have paid $500 a month since 2000. I owe $9000 still. Be paid off next year.