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Post by pattya925 on Dec 12, 2011 9:23:30 GMT -5
Well, some of my student loan debt is my highest interest debt since my mortgage is at 3.5% and my car loan is at 3.4%. I have four student loans where the interest rate is negligible at 0.11% so those I am not concerned with at all. Right now, I want to tackle one of the higher interest ones by making add'l payments on that particular one in addition to my regular monthly payment (which is disbursed over all 9 loans)... My two highest loans are $6132.68 at 6.55% and $1491.93 at 6.5%... I am usually a tackle the highest interest rate first kinda girl, but this time, with the APR's being so close, I am going to tackle the lower balance one first. I need the satisfaction of paying it off to motivate me to take on the large one! Making a $100 payment today.  |
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Post by tanya on Dec 12, 2011 9:48:22 GMT -5
I understand that one! I have several loans with interest rates around the same so I am taking on the lowest balance also. Only $220 left on it. I can't wait to see you get them paid for. I know you can do it!!!
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Post by pattya925 on Dec 13, 2011 9:33:22 GMT -5
Tanya - you are so close!! It will be such a relief to get that paid off and be ready to move on to the next one...  |
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Post by pattya925 on Dec 19, 2011 14:09:24 GMT -5
Yay! Just got an email that because of miscalculation, there was truly an extra $600 in my one house savings account when it was closed. I will be receiving the check this week. I debated applying it toward my furniture balance, but think I will apply it to this student loan instead as I should be able to pay off the furniture financing before the 0% financing ends.
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Post by tanya on Dec 19, 2011 16:23:31 GMT -5
That is awesome!!!
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Post by pattya925 on Dec 20, 2011 9:35:36 GMT -5
super excited |
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Post by pattya925 on Dec 22, 2011 9:47:29 GMT -5
$600.82 paid to the loan! Woot!!! So excited! |
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Post by pattya925 on Dec 22, 2011 9:57:40 GMT -5
Oops! Forgot to change my total to reflect my regular payment as well The loan is down to $762.40! |
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Post by tanya on Dec 22, 2011 15:09:28 GMT -5
Wow!!!! That is awesome!
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Post by hsilberhorn on Dec 23, 2011 9:36:02 GMT -5
Thats great! After we tackle some credit card debit my dh's student loans are next!
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Post by pattya925 on Dec 24, 2011 18:11:08 GMT -5
This will be the first of many... Lol, I have NINE... ouch!
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Post by pattya925 on Dec 24, 2011 18:13:54 GMT -5
Got paid yesterday so made another $100 payment to the loan.
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Post by pattya925 on Dec 25, 2011 10:34:26 GMT -5
Out of curiosity, I went to check how much the original loan balance was and it was $4560! I have been paying on it for about 15 months and it is almost gone! I am so excited! It's amazing how rapidly an extra payment here and there can make the debt disappear.
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Post by tanya on Dec 28, 2011 9:15:51 GMT -5
That is great! I will have one of our loans paid off Friday!
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Post by pattya925 on Jan 2, 2012 13:42:02 GMT -5
Tanya - That's great! Congrats! |
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