Student Loan saga begins


$21,000 student loan repayments are about to begin. On your mark, get set, go!

Student Loan repayment

This is normally when I scamper and decide to go back to school. Diving my self deeper in student loan debt and deffering my student loan payments once again. Then I stress myself out because I don’t have time for school, raising home, and working full time. It’s a mad vicious cycle I repeat time and time again. Remember this is only one of my student loan accounts. The other begins in December.

This time, I am doings things a bit differently. Breaking out of my comfort zone and facing the hard facts.

Hard facts:

  1. You (me) have $32,000 dollars worth of student loan debt that is not going away!
  2. Interest may be low, but it is still secretly accruing (okay, maybe not secretly, but I don’t pay alot of attention to it)
  3. I can’t keep ignoring the debt or keep returning to school (You (me) have your children to put through school soon)
  4. And, it’s times to do things the right way. Stop running and tackle this SL stuff once and for all! The time is now!

I’m in a great position to tackle this Student Loan stuff. I just found out I have great credit, I have a good job, and most of all… my family has been planning and working hard to tackle this issue. It’s not luck that I got my Best Buy Card PIF’d! It was determination.

My Best Buy CC payment is now my 3.25% student loan payment. I reached my goal of not accruing any new debt payments. I erradicated one payment to go to the other. I also did a fast forward and managed to PIF my Best Buy CC by 1 year. Not bad, eh?

I’m not running anymore, fellow friends! I am facing the saga and I am going to erradicate it as fast as i can!

Do you have financial goals you need to tackle, but don’t know how to start? I found a great, great article (click here) to help get you on the right track.



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15 thoughts on “Student Loan saga begins

  1. Pingback: Student Loan saga begin : Money Funk | Personal Finance & Frugal … | Student Loan Consolidation

  2. Debt Ninja

    Punch that freakin loan in the face. I know youa are gonna kill it and knock it out even quicker than you think. Shoot, paying of my student loan is like cocaine now, I love paying it down!

    1. admin

      LOL. Thanks! I hope that I do. It’s really neat to say I kicked my Best Buy card down 1 year in advance!

      Nice analogy! haha. πŸ˜‰

  3. Annie

    Way to stay positive, Christine! Having the desire, the focus and the drive to look this loan in the face and just know that you can handle it is half the battle! I’ve no doubt you can do this, and a LOT faster than you think. Yay! Can’t wait to read the PIF post on that! πŸ™‚

    1. admin

      Thank U! PIF post… “$32,000 gone in _____ months”. I like months better than years. Sweet!

  4. Brad @ enemyofdebt

    Money Funk- Go get it girl! I like what debt ninja said. Punch that loan in the FACE! LOL

    Student loans like to hang out even longer than credit cards, mostly because the low interest rate fools people into not worrying about them. You are doing the right thing! KILL IT!

    1. admin

      LOL. Ninja has some great antics.

      You’re right, they usually are the last to go due to the low interest rate. But, its time to make them diminish from my budget spreadsheet. Thanks!

    1. admin

      It just enforces how important it is to have a well laid out plan. Without the support and guidance of my fellow bloggers, like yourself, I would have never come as far. πŸ™‚

  5. Leigh

    I’ve really been working on paying off my student loans the last few months. I’ve been out of law school for 10 years and I’ve only just now started to make a dent in them. My last credit card will be paid off in another two months or so and I’m going to throw big money at the student loan as soon as I can. I’ve still got $54,000 left!

    1. admin

      Oh, I know someone else that’s in the same position as you (only they just went under the $100K mark. Crazy!

      Great job on PIFing the CCs. It’ll be so nice to have that sucker pd off. Well, you make me feel a little better that I have 2/3rd’s of your SL total. πŸ˜‰

  6. Miss M

    Attack that debt! You’ve got a great plan and obviously are doing everything you can to achieve it. I know a lot of perpetual students, but usually they don’t want to face the grown up world. I didn’t realize that some people do it to defer their loans, very clever. Lots of luck!

    1. admin

      LOL. I deferred a few times. Not a good sign. I am so tired of the debt though. I see so many things I want to do, but its the debt that is the heavy weight. Time to face the fear & hardships and get rid of it!

      Thank U for the encourage words!

    1. admin

      What a great analogy!

      It’ll take a while to pay down, but I am ready for it! πŸ˜‰

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