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Another Student Loan Payment

September 18th, 2020 at 10:59 am


I’m so thankful that I’m able to tackle these student loans so aggressively. Today I paid another $300, new balance on student loan 1 is $3680. In about two weeks I should be able to pay another $800 bringing the total below $3,000. It’s only the first of four loans but I feel fired up about it.

Since I’m averaging about $1000 a month in payments I’m considering not applying for the income driven repayment (IDR) plan, which will put my regular payments at about $650 a month. This will also help with the interest. I have to do a little more research.

Money wise, my cash envelopes came in under budget this budget period, so I’m happy for that. I paid the October electric and mortgage payment. I believe in paying these items as soon as I receive the invoice and have the money. I’m a big believer of not waiting, you never know what will happen. Glad I do this, September mortgage payment was made mid August. The payment bounced. We couldn’t figure out why, well the touting number was wrong. Thankfully I had paid early and was able to meet be September 1, payment

My savings, is looking a little nice. It’s not where I’d like to be, but it’s coming along.

Lastly, yesterday I went to Dunkin’ Donuts 🍩 with a gift card of course, it felt great to go out. I didn’t dine in but it felt good to be out since I’ve been self-quarantining for months.

Posted in Debt | 5 Comments »

5 Responses to “Another Student Loan Payment ”

  1. Lots of Ideas Says:
    September 18th, 2020 at 12:00 pm 1600430423
    1600430423

    Amber, have you ever looked into refinancing with Sofi?
    Their rates are quite low - 2.99 if you sign up for autopay. I don’t know if they let you make extra payments, but I think they would.

    They were started by college graduates who had paid off loans and wanted to help others get out of debt. They are more corporate now, but their mission is similar.

  2. CB in the City Says:
    September 18th, 2020 at 01:30 pm 1600435824
    1600435824

    Those once-in-a-while treats are a lifesaver, aren't they?

  3. crazyliblady Says:
    September 18th, 2020 at 08:27 pm 1600460860
    1600460860

    Are your Student Loan 1 and Student Loan 2 listed on the sidebar only 2 of your student loans?

  4. Amber Says:
    September 19th, 2020 at 02:44 am 1600483458
    1600483458

    CrazyLibLady I didn’t break them out. I found out later that there were multiple ones 🤦🏽‍♀️🙄. I should adjust though.

    Lots of Ideas I did look at refinancing but right now it works in my best interest to keep where they are. It’s zero interest and if things go crazy I can always postpone the payments.

  5. LuckyRobin Says:
    September 19th, 2020 at 06:58 pm 1600541909
    1600541909

    You are doing great. I'd like to see you break those loans down, though, in your sidebar. It'll make it easier to follow along as you pay off each one. I like seeing the numbers fall.

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