5.5 year after graduating, student loans are paid off!

[JM Aggie08]

Nice! That's a shit load of new beer money each month!

$1200/mo, man. Super psyched about socking more away/bumping up my 401k/paying towards principle of hour house lol.

 

[madoka]

$1200/mo, man. Super psyched about socking more away/bumping up my 401k/paying towards principle of hour house lol.

Congrats. Sounds like you are on top of everything.

When I graduated, I was not. Didn't realize that I had four different loans. When I moved back home, three of the loans found me, but the fourth did not. So I didn't know a fourth loan even existed and I went into default. They accelerated my payments to $6K per month after that until I paid that loan all off.

Now we can gripe together about how these millennial slackers are demanding that they don't have to pay back their tuition.

 

[JM Aggie08]

Congrats. Sounds like you are on top of everything.

When I graduated, I was not. Didn't realize that I had four different loans. When I moved back home, three of the loans found me, but the fourth did not. So I didn't know a fourth loan even existed and I went into default. They accelerated my payments to $6K per month after that until I paid that loan all off.

Now we can gripe together about how these millennial slackers are demanding that they don't have to pay back their tuition.

Something something liberal arts degree baristas

Honestly though, had I not gotten a degree in a marketable/well-paying field, this would not have been possible. Part of the whole college experience to me was learning to understand that your job is not your identity; simply a means to keep yourself alive and finance the things that you love to do. Do I love what I do everyday? Hell no. Do I love the lifestyle it affords me? Absolutely.

 

[zinfamous]

$1200/mo, man. Super psyched about socking more away/bumping up my 401k/paying towards principle of hour house lol.

pinciple? man, that's another mortgage entirely that you have just freed up. Why not buy another house and rent it out to some poor college assholes, much like you used to be?

 

[Scarpozzi]

Congrats! I worked my way through school for 9 years and finished with a mere $1300 of debt. I had half of my house paid off, car almost paid off...then I went and married my wife. She brought another $1300 of school debt before she started grad school.....which added $90k. It took us 3 years to pay that off while we lived cheap thanks to taxes and high interest on the loans.... (6.8% if I remember)

I have no idea how people can sit on college debt as long as many do. I give you props for getting rid of that burden.

Take whatever you were paying on your loans and consider throwing down as much as you can into retirement savings while you're young. If you can save up a nice bank roll to invest, there should be another recession in the markets in the next year or two according to a lot of people. Might be a good time to drop some coin on whatever stocks are sliding the most.

 

[purbeast0]

I graduated in 2004 and still haven't paid off all of my loans. I only had like $19k to pay off and consolidated at like 2% and still pay $170/month. Think I owe like $4k or so. I could pay it off easily but am just lazy and it's not much money so I just set it and forget it.