This morning I closed on my largest private student loan (~$26k, ~4-5k in interest). Can't explain how great it feels. Only took me a year and 2 months to pay it off instead of the 12 years standard repayment plan under the loan terms. I didn't sacrifice my entire monthly paycheck to it either. As a recent grad, with good budgeting, I was able to still have a good social life and spend on vacations, nights out with friends, etc. For reference I was making 58k (recently got a raise) and live at home with parents (rent free). I still have other minor gov student loans (1-4k each, low interest) but budgeting to pay those of early as well will be much easier.
If there's anything I hope for another recent grad or soon to be graduate to take away from this, it's to establish a budget and commit to it. You'll still be able to have fun while you're young (I am only 23).
Submitted April 04, 2019 at 09:44AM by SneakerheadVic https://ift.tt/2FOaU75
