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Showing posts from July, 2008

Student Loan Repayment

Got the usual annual letter from Direct Loan Servicer for my student loans . Last year, the letter really pissed me off because of the substantial increase in the interest rate. Yeah I got one of those variable rate loans (at least I was lucky enough to get one with deferred interest). Anyway, I was so pissed I nearly refinanced my loan. Well am glad I didn't because 2 things happened: the interest rate on my loans dropped about 3% for the next year. I guess the failing economy/high gas prices is good for more than reducing road accident fatalities I realized that I had just $8000 and change left of my student loans (started with about $22,000) So today, I sent in a 1-time payment for $5000. Next paycheck, I am paying the rest off! Would be nice to live without that monthly direct debit from my account! How did I get 2 degrees on $22,000? take only what you need. It's so easy and tempting to use your student loans for other purposes (like a new car). After all, the interest i