Student loans...are yours gone?

  1. 0
    or just getting smaller?
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  3. 10 Comments so far...

  4. 2
    Two years ago my DW and I attended Financial Peace University. We learned how to make a budget so our money would go to our priorities and we made paying off debt a big priority. Since then we've paid off our vehicles, replaced our house AC when the old unit died, and paid off our credit card. This is the year that Sallie Mae gets kicked out of our house. So no, my student loans are not repaid but they are getting much smaller. We're currently paying more than 10x the minimum each month and any overtime goes towards paying them off.
    efiebke and TheCommuter like this.
  5. 2
    My student loans are getting smaller. . .

    I accrued about $12,700 in student loan debt after finishing an RN completion program in early 2010. The two loans went into repayment status in October 2010, and although my combined monthly payment is $170, I always pay $300. My current balance is a little more than $9,000. I'm confident I'll have these loans paid off within the next few years.
    efiebke and azhiker96 like this.
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    I'm down to a little over $11,000.00 from $20,000.00+ worth of student loans (for the BS in nursing). The loans for the AS in nursing are paid off already. I always pay more than what's expected into these monthly payments. I should be finished with these loans a couple of years early. Whoopeee.

    JUST found out that the remainder of my student loans have been "sold" to some other company. What a pain.
    TheCommuter and azhiker96 like this.
  7. 4
    My student loans will be gone next month. It will be nice to be completely debt-free. I just wish I'd been able to do it without my parents dying.
    DroogieRN, joanna73, efiebke, and 1 other like this.
  8. 1
    I got $7,000 in loans for my BSN and made payments for two years. Fortunately I got in the FL loan forgiveness program for nurses which pays a max of $4,000 a year and the first year I was in they paid $4,000 and the last they paid off the balance. I made the minimum payments which the first year was $100 a month and the second around $50.00. So my loans are paid off. w00t

    This program is funded by our licensure fees and is funded by nurses.
    joanna73 likes this.
  9. 1
    I was very lucky to get loan forgiveness through the National Health Service Corp. I had $72,000 in loans from my RN-MSN program. NHSC paid back $50,000, another $10,000 was forgiven because they were Perkins Loans. That left me with $12,000 in loans, which I am paying back as fast as I can manage.
    Tweety likes this.
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    I paid my student loans off in early 2010. The payments were scheduled to be repaid over 10 years, but we got them paid off in 8.5 years by paying a little extra whenever we could, then in 2010 we used part of of our 2009 tax return to pay it off in full. That is one bill I don't miss. I was fortunate to only graduate with 17k debt, 5k of which got repaid for working five years of full-time nursing.
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    I graduated in 2010 with 37 000. Currently, I owe 14,600. The loans should be gone in 20 months. Then I can take out more loans for a house or a Masters.
  12. 1
    Quote from pat8585
    or just getting smaller?
    I also used Dave Ramsey's debt snowball theory to pay off a lot of debt, but the student loan debt from my first degrees was still around. When we sold our house and relocated, the money we made from the house (much remodeling was done in 10 years) was just enough to pay off my loans (65K!!!) and buy my husband a nice grill, lol. They are gone!
    azhiker96 likes this.


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