Made it before 40.
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I finally paid off my student loans.
Truth be told, I borrowed less than $12k to get through the last year of graduate school and student teaching. I worked and saved along the way, my grand parents paid the bulk of my bachelor's degree (back when in state tuition was entirely reasonable). I am very fortunate for all of that.
The interest rate was like 2.5%, so I never bothered to try and pay it off early. I set it on autopay at $97/month, and let it ride. I'm still happy it's over though.
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@shop-teacher my kid has an A in welding right now and I told him I hope he likes working in the ship yards
And you may ask yourself, "Where does that highway go to?"
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@shop-teacher Congratulations. Whatchagoonado with that sweet $100/month?
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Shoo feels good, don't it? I skipped out of paying on mine when I joined the Ren Faire. When I got back to the real world, they caught up with me. For a reduced, 1-time payment, they offered to let me off. I took it and am still appreciative. These guys will catch up, eventually.
Live on a 1959 Rhodes Bounty II, DD a 2001 Subabru Legacy, 1996 Gary Fischer Patagonia, 1987 Bianchi
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@shop-teacher Ooh, high roller! now you can upgrade from top ramen
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@Shop-Teacher Congrats. Nice feeling. See below.
@just-a-scratch said in Made it before 40.:
@shop-teacher Congratulations. Whatchagoonado with that sweet $100/month?
New scooter. Just watch.
...meh...
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@shop-teacher You should've dragged your feet more because Biden's going to forgive student debt.
Master Chief Dingus
The entropy of my garage is always increasing.
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@shop-teacher I will probably die before mine are paid off, I got all of the debt with none of the degree.
Current DD - My badass grandma's 2001 Accord EX 5-speed
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@shop-teacher Im banking on some student loan forgiveness to come through. I dont owe a whole lot but I would feel pretty stupid to be making payments if it just vanishes sometime in the next year or so. Since interest is still sitting pretty at 0%, Ive been putting that money into a ROTH IRA instead. I could have actually fully paid off the loans with that money but earning interest is probably worth more. Autopay for that was like $500 so its a nice pay raise right now that is for sure.
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@shop-teacher you did it!!!!!
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@shop-teacher Very well done!
It's motorcycle buying time now right?
Former hoarder of motorcycles, recent CA transplant, nerd.
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@highlander Nice!
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@just-a-scratch Probably nothing fun, but we'll see.
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@vincentmalamute said in Made it before 40.:
@Shop-Teacher Congrats. Nice feeling. See below.
@just-a-scratch said in Made it before 40.:
@shop-teacher Congratulations. Whatchagoonado with that sweet $100/month?
New scooter. Just watch.
Possimaybe.
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@rusty-vandura How could I possibly drag my feet more than paying the minimum every month until I was 39?
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@jminer said in Made it before 40.:
@shop-teacher Very well done!
It's motorcycle buying time now right?
We'll see.
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@shop-teacher congrats on paying out the loan buy more importantly congrats on making through all of that school!
E46 M3 | 1502 Hotrod
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@tripper Life is funny. I didn't even want to go to college until I was more than halfway done with high school. Then I went to architecture school ... Next thing I know, I have a Master's decree, and I'm teaching shop classes.
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@shop-teacher yeah it’s funny my parents always told me it would be like that, “dosent matter what you go to school for”.
I went to a TINY college because I really didn’t want to go. Then I went to automotive tech school annnnd I’m in corporate America as the head of IT...
In hindsight I wish I hadn’t bucked computers initially. I would have focused schooling on that instead of snowboarding.
E46 M3 | 1502 Hotrod
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@shop-teacher @Tripper Life is strange as hell.
I was convinced I was going to be an aerospace engineer, did 1 year and hated every minute of it and dropped out as I had no idea what I wanted to do and since I was paying for college on my own that seemed like a better idea.
Spent 2 years mowing grass, lifeguarding, theme park work, sheet metal in a factory (for 2 days) and was a bank teller still with zero life plan. Also got married during this period.
A friend called me and said the company he was working for needed a helpdesk monkey. Answer the phones and troubleshoot things while also helping with sales staff technical support. It paid more than my current job so I went for it. Been in IT 16 years now in ever-progressing roles and it's been very good to me.
Former hoarder of motorcycles, recent CA transplant, nerd.
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@tripper My dad didn't even want me to go to college. He wanted me to go into construction with him. That was always my plan too. Even when I went to Architecture school, I intended to go into the business with him. It was my grandma offering enough money to pay for most of the bachelor's degree, that made me give college a shot. Credit where credit is due, even though he didn't want me to go, Dad never discouraged me and he did help me by paying for my car insurance and some other bills here and there. It really was a family effort.
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@jminer It was smart to get out of college then. I never understood why people go without any kind of plan. You had a plan, but weren't enjoying it, so best to get out before loading up with more debt.
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@shop-teacher You do have an point...
Master Chief Dingus
The entropy of my garage is always increasing.
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@rusty-vandura I have things to say about the whole student loan debt thing, but I'll save that for a separate post that I may or may not make.
For my situation, the system worked as it should for me. Tuition for my entire four years of my bachelor's degree was under $24k. I know, because I wrote the checks myself. I got a TA position for grad school, so it was even cheaper. I took that loan for the last year of grad school plus student teaching, because by then I was simply out of savings to live off of. That loan was the lifeline I needed to finish my schooling without having to live in the camper shell on my S-10. The interest rate was low, and the payment was never a stressor to my finances.
Thankfully I was able to live at home during student teaching. With 9 weeks to go in it, I was down to my last $200. I sold off all my RC vehicles to pay for gas to get to school. I'm sure I could have asked my parents for gas money, but I felt like they'd done enough.
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@khalbali Bummer
