I'm officially down to a balance of $12,393 on my student loan! I'm loving the progress at this point. My next goal is to have the balance down to $10,750 by the end of September.
For my end of August payment I was able to put $661 on the loan: that included my regular $492 payment, some leftover money from various budgeted areas from the previous 2 weeks and a health insurance premium rebate issued by the firm. The minimum monthly payment due on the loan is $150.82.
Anyways, based on that $661 payment, I don't have a payment due until May of 2019. The original end date for the loan was August (??) 2030. If I am able to stick with my plan I should be able to pay the loan off at the end of January of 2016, cutting 14 years off of the loan.
Here is a month by month total:
(2014)
December $23,650
(2015)
April $19,408
May $18,939
June $16,632
July $14,824
August $12,393
I'll admit, as I get closer to the finish line I'm getting even more impatient. I'm so ready to have this loan gone and start saving and investing. I still also worry that something bad will happen before I have a chance to pay this thing off. Sigh. I will just keep plugging along and hopefully blessings will continue come my way.
Happy Friday Everyone!
I am in th same mindset - impatient and so ready to be done with the debt. The best you can do is keep bumping along. It will happen - you definitely have the right motivation.
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