Friday, December 7, 2012

Master's Degree: Paid For!!!

That's right!!

I PAID OFF ALL MY STUDENT LOANS!!!!!!

Peanut and I decided recently to go all Dave Ramsey on our student loans (our only debt besides the mortgage) and funnel the money we had earmarked for Roth IRAs into paying them off. Doing so killed a balance of $8,100 and a monthly $225 payment, which is now freed up to attack Peanut's student loans.

We hope to pay his off within the next year, meaning we would only miss two years of Roth contributions. I hope we can do that - his loans are around $18,000 which is a lot of money when one of us won't be working for half the year.

I graduated in May 2010, and my degree is mine, clear and free! Also, I estimated a little high when sending in my pay-off payment, and the student loan servicer now owes me $40. That'll be a check I'd want to frame, except I'm totally going to cash it. :)

5 comments:

  1. Congrats! Holy crap, you and Peanut are so sneaky. Ya think everything's running as normal over on the LMM blog and BOOM they've paid off her student loans! I hope you reach your goal of paying off Peanut's loans in 2013. Having that student loan payment in your pocket will be great! CONGRATS AGAIN!

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  2. Congrats to you! I can't wait to be in your position!

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  3. Wow, congratulations, LMM! :) This is such great news. I'm glad to hear money is going well, and also all of the good news about the baby.

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