Comments on: $52,050.74: A Farewell to Student Loans http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: AJ http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-195727 AJ Thu, 16 Jul 2009 01:41:35 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-195727 I have $110k in student loan debt for just undergrad. I can not even get a job that pays me anything because I did liberal arts. I am working on changing things though. I have $110k in student loan debt for just undergrad. I can not even get a job that pays me anything because I did liberal arts. I am working on changing things though.

]]> By: Mike http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-145367 Mike Fri, 18 Apr 2008 13:02:01 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-145367 Fairplay to you. That is some going. I love to read about success stories like this. It gives inspiration to all the rest of us. Fairplay to you. That is some going. I love to read about success stories like this. It gives inspiration to all the rest of us.

]]> By: Ex-student http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-133305 Ex-student Mon, 21 Jan 2008 02:10:50 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-133305 Hi everybody, Since the cost for studying in an american college or university is so high and getting a loan for that is so high too....many american students started to study, on the other side of the border, in Canada where the cost of studying is generally 10 000$ which is much less than the majority of the american colleges and universities. Lower you debt potentiel as much as possible. Thanks Hi everybody, Since the cost for studying in an american college or university is so high and getting a loan for that is so high too….many american students started to study, on the other side of the border, in Canada where the cost of studying is generally 10 000$ which is much less than the majority of the american colleges and universities. Lower you debt potentiel as much as possible. Thanks

]]> By: Ray http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-132454 Ray Thu, 10 Jan 2008 18:11:07 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-132454 Hmm interesting..I'm the opposite. I managed to consolidate my $35,000 law student loans at a very low fixed rate at 2.25%. I'm in no rush to pay them off since they're better spent sitting in an interest account. Hmm interesting..I’m the opposite. I managed to consolidate my $35,000 law student loans at a very low fixed rate at 2.25%. I’m in no rush to pay them off since they’re better spent sitting in an interest account.

]]> By: nathan http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-132444 nathan Thu, 10 Jan 2008 17:31:38 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-132444 If you work in public service and make monthly payments for 10 years, your remaining balance is paid off courtesy of your friendly federal government. Thanks to the Democratic party controlled Congress for finally making this happen...making education a priority. See Public Law 110-84. If you work in public service and make monthly payments for 10 years, your remaining balance is paid off courtesy of your friendly federal government. Thanks to the Democratic party controlled Congress for finally making this happen…making education a priority. See Public Law 110-84.

]]> By: IndependentGirl http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-121293 IndependentGirl Tue, 23 Oct 2007 14:21:18 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-121293 I'm just one more person here to say "Way to go!!" Thanks for sharing. I’m just one more person here to say “Way to go!!” Thanks for sharing.

]]> By: Stephanie http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-121180 Stephanie Mon, 22 Oct 2007 03:42:19 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-121180 Wow! Congratulations! I'm still chipping away at my student loans. But reading your post reminds me that one day, I can be free of student loans, too! And I also got some ideas of how to pay my student loans off faster without putting myself in a place where I'll be scared of things happening. I just will keep my emergency fund at a certain point, and every time it reaches a certain higher point (due to automatic deposits and earned interest) I can pay that big chunk to my student loan company! Wow! Congratulations! I’m still chipping away at my student loans. But reading your post reminds me that one day, I can be free of student loans, too!
And I also got some ideas of how to pay my student loans off faster without putting myself in a place where I’ll be scared of things happening. I just will keep my emergency fund at a certain point, and every time it reaches a certain higher point (due to automatic deposits and earned interest) I can pay that big chunk to my student loan company!

]]> By: SJean http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-121171 SJean Mon, 22 Oct 2007 02:36:59 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-121171 Congratulations!! I clicked over because my name is also Sasha, and it is just not that common of a name. My student loan debt is 20k sitting at 0% interest, but it still bothers me! Congratulations!! I clicked over because my name is also Sasha, and it is just not that common of a name.
My student loan debt is 20k sitting at 0% interest, but it still bothers me!

]]> By: The Weather Here Is Wonderful - Plus A Stroll Through My Blogroll http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-121146 The Weather Here Is Wonderful - Plus A Stroll Through My Blogroll Sun, 21 Oct 2007 23:06:26 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-121146 [...] Sasha from Consumerism Commentary has paid off more than $52,000 in student loan debt!  Yes! [...] [...] Sasha from Consumerism Commentary has paid off more than $52,000 in student loan debt!  Yes! [...]

]]> By: Student Loans » Blog Archive » Comment on $52050.74: A Farewell to Student Loans by $52050.74: A … http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-121030 Student Loans » Blog Archive » Comment on $52050.74: A Farewell to Student Loans by $52050.74: A … Sun, 21 Oct 2007 01:31:47 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-121030 [...] financialaidpodcast@gmail.com (Christopher S. Penn ) wrote an interesting post today onHere’s a quick excerptA Farewell to Student Loans Ah, student loans. The things that remember you long after you’ve completely forgotten the entire college experience. Although I finished college in 1997 and graduate school in 2000, loan payments to Sallie … [...] [...] financialaidpodcast@gmail.com (Christopher S. Penn ) wrote an interesting post today onHere’s a quick excerptA Farewell to Student Loans Ah, student loans. The things that remember you long after you’ve completely forgotten the entire college experience. Although I finished college in 1997 and graduate school in 2000, loan payments to Sallie … [...]

]]> By: $52,050.74: A Farewell to Student Loans at Stafford Loan Consolidation http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120655 $52,050.74: A Farewell to Student Loans at Stafford Loan Consolidation Fri, 19 Oct 2007 16:53:14 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120655 [...] $52,050.74: A Farewell to Student Loans Ah, student loans. The things that remember you long after you’ve completely forgotten the entire college experience. Although I finished college in 1997 and graduate school in 2000, loan payments to Sallie Mae have been a constant fixture ever since, like a little wound I’d nurse which … [...] [...] $52,050.74: A Farewell to Student Loans Ah, student loans. The things that remember you long after you’ve completely forgotten the entire college experience. Although I finished college in 1997 and graduate school in 2000, loan payments to Sallie Mae have been a constant fixture ever since, like a little wound I’d nurse which … [...]

]]> By: Thrifty Penny http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120621 Thrifty Penny Fri, 19 Oct 2007 15:16:22 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120621 That's awesome! Congratulations! Do you hear that around the corner? That's right, it's the sound of sweet success. Corny, I know! That’s awesome! Congratulations! Do you hear that around the corner? That’s right, it’s the sound of sweet success. Corny, I know!

]]> By: Sasha http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120605 Sasha Fri, 19 Oct 2007 14:35:41 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120605 Marie, I think it is important to give yourself some leeway as well. While I paid more to my student loans during certain periods, there were some times when my financial focus needed to be elsewhere, so I just paid the minimum, like when I was in grad school or dealing with unexpected expenses. With your income and family situation now, I can understand that it might be hard to really focus in on the debt. Understand that even if you are paying the minimum, you're still making progress--with a family on a tighter income, the emergency fund becomes even more important, so that may be where your priority lies. You can always work on that fund, place it in a high-yield savings account, and use the interest as extra, "Bonus" principal payments on your loans. Marie,

I think it is important to give yourself some leeway as well. While I paid more to my student loans during certain periods, there were some times when my financial focus needed to be elsewhere, so I just paid the minimum, like when I was in grad school or dealing with unexpected expenses. With your income and family situation now, I can understand that it might be hard to really focus in on the debt. Understand that even if you are paying the minimum, you’re still making progress–with a family on a tighter income, the emergency fund becomes even more important, so that may be where your priority lies. You can always work on that fund, place it in a high-yield savings account, and use the interest as extra, “Bonus” principal payments on your loans.

]]> By: FinanceAndFat http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120602 FinanceAndFat Fri, 19 Oct 2007 14:23:55 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120602 That's awesome! Congrats! My wife and I have about $65K combined. Yeah, that's going to take a long time...nice to see a student loan success story though! That’s awesome! Congrats!

My wife and I have about $65K combined. Yeah, that’s going to take a long time…nice to see a student loan success story though!

]]> By: Free Money Finance http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120502 Free Money Finance Fri, 19 Oct 2007 10:19:34 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120502 Star Money Articles for the Week of October 15... Here are some recent interesting posts from the MoneyBlogNetwork and beyond: Five Cent Nickel is a deadbeat. ;-) Blueprint for Financial Prosperity reviews Negotiation Genius. No Credit Needed lost his wallet. Get Rich Slowly wonders which recurring mo... Star Money Articles for the Week of October 15…

Here are some recent interesting posts from the MoneyBlogNetwork and beyond: Five Cent Nickel is a deadbeat. ;-) Blueprint for Financial Prosperity reviews Negotiation Genius. No Credit Needed lost his wallet. Get Rich Slowly wonders which recurring mo…

]]> By: Meg http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120271 Meg Fri, 19 Oct 2007 00:48:34 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120271 Congrats! What a wonderful feeling it must be. I can't wait until I feel it. Only 10 more years. Congrats! What a wonderful feeling it must be.
I can’t wait until I feel it. Only 10 more years.

]]> By: Vixen http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120227 Vixen Fri, 19 Oct 2007 00:09:34 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120227 Major congratulations are in order. I just had to take out my first student loan. It scares the shit out of me. Fortunately, I did city college the first two years. I'm looking to be in something like 10k in debt by this time next year. Eeeek. Not to mention, I'm planning on a Ph.D after this. That equates to: super expensive schools! My least expensive option would be something like UCLA which is still 13k a year. Major congratulations are in order.

I just had to take out my first student loan. It scares the shit out of me. Fortunately, I did city college the first two years. I’m looking to be in something like 10k in debt by this time next year. Eeeek.

Not to mention, I’m planning on a Ph.D after this. That equates to: super expensive schools! My least expensive option would be something like UCLA which is still 13k a year.

]]> By: Somebody Is Doing Something Right | Exjackly http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120169 Somebody Is Doing Something Right | Exjackly Thu, 18 Oct 2007 23:02:20 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120169 [...] Patrick one better however.  Sasha just reached a major milestone by making the last payment on $52,050 of student loans.  That is huge and a wonderful goal to reach.  The writing is pretty entertaining [...] [...] Patrick one better however.  Sasha just reached a major milestone by making the last payment on $52,050 of student loans.  That is huge and a wonderful goal to reach.  The writing is pretty entertaining [...]

]]> By: Marie http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120074 Marie Thu, 18 Oct 2007 20:20:25 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-120074 Thanks for posting this. My husband and I both have masters. I got mine in 2005 he finishes his Apr 2008. We had $55,456.27 in student loan debt and I panicked. We make 21k a year (have 2 kids) and got it down to $51,168.79 for a total paid of $4,287.48 to date. I was feeling like we weren't making any progress. But your post has encouraged me to keep chugging. Thanks for posting this. My husband and I both have masters. I got mine in 2005 he finishes his Apr 2008. We had $55,456.27 in student loan debt and I panicked. We make 21k a year (have 2 kids) and got it down to $51,168.79 for a total paid of $4,287.48 to date. I was feeling like we weren’t making any progress. But your post has encouraged me to keep chugging.

]]> By: Kris http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119872 Kris Thu, 18 Oct 2007 03:11:03 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119872 Sasha - TOTALLY. I printed mine out and I'm putting it on my fridge. Sasha – TOTALLY. I printed mine out and I’m putting it on my fridge.

]]> By: John http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119832 John Thu, 18 Oct 2007 00:33:50 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119832 Sasha, The rate is locked in, so I'm set there. We consolidated a few years ago. The .5% reduction is for a certain amount of on time payments. Sasha,

The rate is locked in, so I’m set there. We consolidated a few years ago. The .5% reduction is for a certain amount of on time payments.

]]> By: Sasha http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119830 Sasha Thu, 18 Oct 2007 00:24:04 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119830 John, That's a very nice interest rate--be sure to lock it in if you get it ever lower! My rate used to be more like that but I was late in consolidating and the rates went up. One of my dumber moves.... Sasha John,

That’s a very nice interest rate–be sure to lock it in if you get it ever lower! My rate used to be more like that but I was late in consolidating and the rates went up. One of my dumber moves….

Sasha

]]> By: Sasha http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119827 Sasha Thu, 18 Oct 2007 00:14:16 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119827 Andrea, I kept hearing the same thing--that I should just ignore the debt and try to invest in stocks which would earn more. But I'm not much for higher-risk investments, and I decided I'd rather get rid of what seemed like a slow leak of my personal funds than take a chance on something that can fluctuate either way. Also, the loans just annoyed me in principal. I want to remember college fondly... Andrea,

I kept hearing the same thing–that I should just ignore the debt and try to invest in stocks which would earn more. But I’m not much for higher-risk investments, and I decided I’d rather get rid of what seemed like a slow leak of my personal funds than take a chance on something that can fluctuate either way.

Also, the loans just annoyed me in principal. I want to remember college fondly…

]]> By: Sasha http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119825 Sasha Thu, 18 Oct 2007 00:07:26 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119825 Kris, Thanks. I'd love to get that e-mail: Dear Sasha, Thanks for doing business with us. We promise never to bother you again. Ever. Really, forget we ever existed. Love, Sallie Mae Kris,

Thanks. I’d love to get that e-mail:

Dear Sasha,

Thanks for doing business with us. We promise never to bother you again. Ever.

Really, forget we ever existed.

Love,

Sallie Mae

]]> By: Sasha http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119824 Sasha Thu, 18 Oct 2007 00:06:07 +0000 http://www.consumerismcommentary.com/2007/10/17/5205074-a-farewell-to-student-loans/#comment-119824 Mapgirl, I don't really know what my next goal is, but I'm up for suggestions. I have a few mortgages between my primary residence and rental property, and I could go towards trying to pay them down sooner, but with assuming I'l resell my primary residence in a few years anyway, it may not be worth it. Really, I'd like to grow my cash net worth. I keep seeing Flexo's rise monthly on this blog, but my finances were all channeled to the debt so I've not seen my worth rise much at all in the last 2 years. Also, I still have too many expenses. Oh, and I'm just the associate blogger here... =) Mapgirl,

I don’t really know what my next goal is, but I’m up for suggestions. I have a few mortgages between my primary residence and rental property, and I could go towards trying to pay them down sooner, but with assuming I’l resell my primary residence in a few years anyway, it may not be worth it.

Really, I’d like to grow my cash net worth. I keep seeing Flexo’s rise monthly on this blog, but my finances were all channeled to the debt so I’ve not seen my worth rise much at all in the last 2 years. Also, I still have too many expenses.

Oh, and I’m just the associate blogger here… =)

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