Friday, July 17, 2015

Mid-July Student Loan Update

So after being paid on July 15, I made my big payment for the month, $1,226! My student loan balance is now down to approximately, $15,273 (that's with interest through July 31-the next anticipated payment date). My payment date has been advanced to October 2017. Who hoo! I am getting that balance down!  My balance is almost down to the amount I have in savings, I think that knowledge is encouraging me quite a bit.  I have approximately a little over $13,000 in savings so the 2 numbers are converging.  I should be able to meet my goal of having the balance in the $14,000s by the end of July.

Looking back at my payment history, I have made more than the minimum payment required on the loan since February of 2014! I received a small raise at work (about 5%) so I will likely put that money towards the student loan (more on that in a separate post).  Also, I am expecting reimbursement for at least one more travel voucher this month- so a portion of that money will also go towards the loan. 

One last thing-I've noticed that when I make a payment in excess of $1000, before the payment goes through, the website will issue a warning advising that I input an amount in excess of $1000.  I know it's probably to avoid typos, but I thought that was hilarious! Everytime, I was like, "Yes, I know it's in excess of $1000, I'm trying to pay this stupid thing off!!!!"

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