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Cue the Fireworks and Confetti!

Tuesday, July 21, 2015

One of my most popular posts was about how I paid off $10,000 in credit card debt. Here is the very last line from that post, "Neither of us have car loans, so our only debt at the moment are my student loans, which will be paid off in December 2015 (4 years early)."

I am SO EXCITED to announce that my student loans will be paid off on THURSDAY!

I followed a very simple plan for paying off my student loans - about every six months I would increase the amount I was paying. The first time I increased my payment above the minimum, I think it was $40. Then I moved up to $70 above the minimum six months later. I would check my progress and calculate when my loan would be paid off by using this calculator. By 2012 I was paying double the minimum payment.

Eventually I was paying 3x the minimum payment, and I decided I was happy with the payoff date that the calculator showed. I've been paying 3x the minimum since April 2014. I made the payments automatic and never looked back. Even when I was paying off my credit card I still paid extra on my student loans.

And here I am, six years after graduating and my student loans will be gone forever in TWO DAYS!

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