At the end of last week I hit another milestone in my student loan debt repayment when my latest payment was processed and my total outstanding student loan debt hit about $90 thousand. That’s a pretty big drop from the $121 thousand that I started out at, huh?
And while hitting $90 thousand in outstanding student loan debt is a big accomplishment, I find myself focusing in on defining the next big milestone in my repayment plan. Sure, the obvious choice is to hit $80 thousand outstanding (and I project that I should be there around July 1st), but there has to be something in between – and I think I know what it is.
I now owe a little more than $35 thousand on my NJHESAA loan. I think a nice interim “big milestone” will be when I bring that particular loan below $30 thousand. According to my projections, I may hit that particular milestone around May 15th, but that depends on a lot of different things falling into place.
So, today I celebrate getting the student loan debt down to $90 thousand. Here’s hoping that we have an entry about me reaching $89 thousand before the end of the month!
In May 2006, I graduated from Rutgers University with a Masters Degree and $120,720 in student loan debt. I currently owe $90 thousand, which breaks down to $35 thousand owed to the New Jersey Higher Education Student Assistance Authority and $55 thousand owed to the United States Department of Education. Follow my student loan repayment story on JerseySmarts.com.