Paying off student loans - Cartoon Contest Winner - page 2

What's the best way to pay off your student loan? How do you do it? For those who have multiple student loans - have you thought about merging them into one? Any other ideas? Click Like if... Read More

  1. 6
    My student loans were paid in 2.5 years, 35,000. Working extra shifts and putting all of my extra money towards the loans was well worth it. I'm debt free, and I've saved 10,000 dollars in interest by paying the loan off sooner. Interest kills.
    MBARNBSN, Hygiene Queen, modgoth1, and 3 others like this.

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  2. 3
    Although its been many years, I lived very cheaply, drove my old car, then paid as much as I could afford into the loans each month (at least double the requested payment). I paid them off in 18 months, then saved up for a new car. When I hear about some new grads with over $100,000 in student loans, I just cringe... Especially since the job market for new grads is so competitive right now!
  3. 0
    Quote from keisha e
    I worked perdiem ships for the year (4 per month ) and was able to pay $20K off in 2012.
    That is exactly what I'm planning to do. Thanks for letting me know that it is entirely possible! Yay!
  4. 1
    Quote from Aongroup1990
    I would say when you get your taxes keep paying them off by the thousands because the loans will decrease faster in that way, but it's just my opinion.
    Great idea!
    citylights89 likes this.
  5. 3
    My husband and I paid over the principal amount and were able to pay off nearly $30,000 in 13 months! What a relief!
    MBARNBSN, Hygiene Queen, and joanna73 like this.
  6. 2
    Paid off my undergrad loans this past year ($18k) after 4 years of being a RN. Also paid off $12k in credit card debt, paid for 2 cars ($20k), and a modest wedding (~$8k in cash). We're down to $22k on DH's grad loan from $28k, still have $18k on his undergrad loan, and golly I don't even wanna think about my grad loans I'm getting right now...but I pay off the interest each month which should save me a few thousand in the long run.

    We hope to pay it all off within two years or that he's working full-time, me working full-time (and going to school part-time, i.e. no life!!), we are trying to pretend that we don't suddenly have double the income that we used to have...

    next up after this: down payment for mortgage and baby! I cannot wait!!
    besaangel and joanna73 like this.
  7. 0
    The cartoon is quite funny.
  8. 0
    student loans...can't wait to have them all paid off!
  9. 2
    at least unlike other college degrees we have jobs that allow us to pay them off!
    ktliz and citylights89 like this.
  10. 0
    Quote from akf100
    at least unlike other college degrees we have jobs that allow us to pay them off!

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