Well, I had a great entry to post to the blog today about my cable company and the craziness of big-time cable operators in a “user-friendly” and “customer-gentle” world, but I’ll save that for tomorrow. Instead, I received my student loan statements today and I’ve hit another milestone.
For those of you that don’t know, I started repaying my student loans about three years ago after I graduated from graduate school. In total, I racked up around $121,000 in student loan debt. That’s a pretty ridiculous number when you consider that the average student loan debt ranges between $15,000 and $35,000 (it depends on whether you get a bachelor’s degree or you go on for the masters and if you’re in-state vs. out-of-state). Anyway, my student loan debt is clearly head and shoulders above the averages.
But I’ve become pretty proficient with money and making money work for me in the last few years and, as a result, I’ve been able to overpay most of my monthly payments. So the big milestone that I hit is that my student loan debt is now “down” to $100,000! That’s some pretty impressive improvement when it was at $121,000 less than three years ago.
What’s frightening to think about is that if I didn’t have to pay rent since I graduated and if my old truck didn’t consistently breakdown before I donated it, I would have been able to overpay my student loans by another $30,000.. But hey, no reason to look back at that stuff when there is so much positive in the future.
Be on the lookout for another student loan milestone post coming soon when I break the six figure barrier and land in the five figure debt zone ($99,999 in debt). It’s coming quick!