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Student Loan Update

By Beth. Filed in finances  |  
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IMG_1005So, I made a really big lump sum payment on my student loans this month. Combining my tax return along with the amount of money I made from teaching two courses (after I used some of it to pay for my braces) meant I could make a $9,000 payment on my student loans. $9,000! Making the amount that I currently owe on my student loans a mere $26,500!

This puts me well within reach of achieving my goal of cutting my student loans in half by the end of 2011 compared to the end of 2010 – i.e., reaching the $20,000 mark (compared to the $40,000 I owed at the end of 2010). Also, since I got a raise, I upped my monthly payments to $1300/month.

Man, when I finally get these suckers paid off I am going to throw one hell of a kickass party!

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This entry was posted on Friday, May 6th, 2011 at 8:42 am and is filed under finances. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

12 comments to “Student Loan Update”

  1. Comment by MJ Ankenman:
    Friday, May 6th 2011 at 9:25 am

    Congrats….student loans are such a weight on your shoulders. Good for you to have a plan, I think that helps to reduce the stress of it all.

  2. Comment by Courtney-O:
    Friday, May 6th 2011 at 9:37 am

    Way to go! I recently paid mine off, and it felt amazing!

  3. Comment by Dan:
    Friday, May 6th 2011 at 10:10 am

    Congrats. That’s awesome!

  4. Comment by Jody:
    Friday, May 6th 2011 at 10:23 am

    can’t wait for the party… damnnnn education is expensive!

  5. Comment by Krista Lee:
    Friday, May 6th 2011 at 10:36 am

    And this is why Margaux is 2 months old with $600 in RESPs already. Way to go Dr.Beth!

  6. Comment by Beth:
    Friday, May 6th 2011 at 10:39 am

    Way to go on getting started on the RESP for Margaux, Krista Lee!

    Jody, you are so right – education *is* expensive! And you should totally fly out here to celebrate when I have my big party!

  7. Comment by Sarah in Ottawa:
    Friday, May 6th 2011 at 12:59 pm

    I’m so proud of you for busting your butt and blowing through your student loans. Not much longer and they’ll be GONE. I’d better be invited to that party.

  8. Comment by Beth:
    Friday, May 6th 2011 at 1:30 pm

    You are SO invited to the party!

  9. Comment by Rick:
    Friday, May 6th 2011 at 10:12 pm

    Good stuff!! I’m self-inviting myself to the party, whether you like it or not :) .

  10. Comment by Beth:
    Friday, May 6th 2011 at 10:26 pm

    You are also SO invited to the party, Rick!

    Man, I really better start planning this thing! I have less than 2 years to plan the bash of the century!

  11. Comment by Cath@VWXYNot?:
    Saturday, May 7th 2011 at 8:08 am

    Congrats!

  12. Comment by Beth:
    Sunday, May 8th 2011 at 10:34 pm

    Thanks!

    Also, you are SO invited to the party too! Hooray!

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