Friday, May 06, 2005

So Long, Sallie Mae

It is done.

I just submitted the final payoff for the last of my outstanding student loans. When the $1,278 payment clears my credit union next week — probably Monday, May 9 — I will be, officially, debt-free. Well, except for my mortgage.

So please excuse me for a moment. I believe I'll pop open a cold one.

It has been a long, long time coming.

— Posted by Michael @ 12:19 AM


Whoohoo! Doing the happy dance for ya! Congratulations! :-)

L. Womack, NC

Anonymous Anonymous
, at 7:10 AM, May 06, 2005  

Congratulations! Great job - here's to hard work and perseverance.


Congratulations!! I know just how good that feels. Here's to ya!


Well done! You are a fine example of what many of us hope to be one day. On to the fun stuff, having extra money to save/invest to make more money. Congrats again! :-)


Thanks for the kind words, everybody!

I'm just anxious to see that zero balance show up next week!


That's GREAT! I can imagine how good that must feel. When our car is paid off (in less than one year) we'll be in the same position, only 12 years of a 15 year mortgage left. I plan to pay that sucker off early too.

You're an inspiration.

Anonymous Michele
, at 8:44 AM, May 09, 2005  

I still remember junior year of high school when the anatomy teacher was grinning ear to ear. We frantically studied as he started class because we assumed that it meant pop-quiz. Eventually he told us the reason. He had mailed his last student loan check that morning.

My best friend and I turned in disbelief toward each other. Without words we knew we were thinking the same thing... it took him that long to pay off a state school... We were both looking at elite private schools.

His moment still resonates with me- but it wasn't enough to stop either of us from attending our dream schools.

At the current rate, using Mary Hunt's Rapid Debt Repayment it will be paid off sometime in 2010.

Anonymous Anonymous
, at 9:32 PM, May 28, 2005  
** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]