Money related

MinM

I got the statement from the bank re: how much money I have paid on my student loan and the associated interest. I did some rough math in my head, and approximately 10 out of the 12 payments I make in a year go to interest.

I need to start making larger payments. Yikes!

Mrs.Thistletwat

I have that too, MinM. It was really distressing to hear that $100 of the $1200 I've paid has gone to principle.

TheDuckis

This is why you should hold onto that no-interest medical debt for as long as possible. Take the chunk of money you were going to put there and use it to knock out some of the principle on your loans that carry interest.

MinM

My student loan is the only interest bearing account I have

PMeg819

I probably don't have as much as you do smartypants, but even I get depressed. Yes, student loan debt is good debt but FFS, I've been out of college for 5 years. Just go away already.

MinM

I was lucky only have debt from graduate school, but it was still six years. H will have something closer to ten years. At least my annual income exceeds my student loan debt. That is nice.

NOLABridesmaid

I had about $30,000 and paid if off in 9 years. You will get there. I know people that had much more than me, and still paying.

6fsn

The interest is at least partially deductible.  Thankfully ours is so very, very close to being paid off.  DH's 10 years is up shortly.

*Barbie*

I'm hoping to have mine paid off by June 2010, less than 5 years post graduation. I don't have nearly as much as a lot of people thought. DH's parents paid for college 100%, so he's lucky to be student loan free.

Cant_wait!

I guess I should stop whimpering about H's student loan debt. We're very lucky it's so little (his fees were majorly reduced because of where I work).

6fsn

I was very lucky not to have any of my own.  Between DH's internships and scholarships he didn't need to take too many loans.  The rates are so low we've never felt a need to pay them off early.