I initiated the process to consolidate (again) my student loans in June, anticipating the completion of my Master’s degree in August. After a long delay, my outstanding loans have finally been refinanced as of October 10 at a fixed rate of 4.25%. Now comes the fun part: finding money to pay it off, and doing so at a rate faster than what the loan company suggests.
Looking back, there were several times I should have applied my tuition reimbursement check to the outstanding student loans rather than using the check to assist my cash flow. I think I may be trying to save more money than I can afford to save, or spending too much money eating out. Even the cafeteria in the office is surprisingly expensive, despite the meals being partially subsidized.
The point is I need to make my student loans disappear as quickly as possible.
Updated September 28, 2007 and originally published October 20, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.