Officially student loan debt free

[perma]

My wife and I had a combined $50k. Made the final payment today. Took us 10 year. Damn good Friday and damn good way to start the new year.

 

[pabearhunter]

Good for you and CONGRATULATIONS.

 

[seeth07]

That was a great day in my life right along side the day I paid my mortgage off. It is such a great feeling to look at your bank account and be zero in debt even if there is only 500 bucks in there! lol

 

[noharleyyet]

Good deal perma, congrats.

 

[Jbotto]

Congrats man! That’s gotta be a great feeling!

 

[Big Fin]

Great to hear.

 

[Mallardsx2]

Congrats!!!

Thank you for paying for your loans and not asking someone else to.

 

[Pucky Freak]

Awesome. Congrats!

 

[brymoore]

@perma Here’s a good opportunity to ask was it worth it? Student loan debt to get college educations?

 

[Salmonchaser]

Congratulations. That is the way to do it.

 

[TheBenHoyle]

good job congrats!

 

[seeth07]

@perma Here’s a good opportunity to ask was it worth it? Student loan debt to get college educations?

Between my wife and I, we were about double Perma's and without a doubt it was absolutely worth it.

 

[Johnny Bravo]

only 50k? lol.....congrats....I love being debt free....

 

[ismith]

Congrats!

 

[perma]

@perma Here’s a good opportunity to ask was it worth it? Student loan debt to get college educations?

Tough to say. I think my wife and I were very lucky with getting the jobs we got. Truth be told, I'd probably do it again. I did a lot of things wrong when I was younger that made this process way more painful. Hindsight is 20/20, know what I mean?

My wife went abroad for a semester for her studies to Paris and Spain. I think that was worth it for her.

 

[Khunter]

we are old enough we paid an average of maybe $400 per semester for tuition in state and univ of Texas so could work our way through debt free in the 80s. That included season football tickets.

Whole different ballgame these days

 

[Zootownelk]

Amazing feeling! Good or you all!

 

[PawPawWPG]

Congrats!

 

[perma]

Tough to say. I think my wife and I were very lucky with getting the jobs we got. Truth be told, I'd probably do it again. I did a lot of things wrong when I was younger that made this process way more painful. Hindsight is 20/20, know what I mean?

My wife went abroad for a semester for her studies to Paris and Spain. I think that was worth it for her.

Actually wanted to expand on this now that I’ve had time to sit back and think about it. Maybe it’ll help someone.

I seldom recommend debt but for an 18 YO without a full ride and no good upbringing/savings would make it hard. Some often would suggest to wait a few years and work 40 hours for a few years before going, but I knew if I did that I’d never go to college.

-DO NOT MAKE THIS POLITICAL-

I think if I were to do it again, I’d do it in the following:
- No govt loans. I had a payment that was less than the accrued interest. Makes zero sense.
- Private loans only. Interest is typically higher and they decline most younger folks who apply but there are some that will make it work.
- Cash flow as much as possible. I did this because I didn’t have a choice. I lost out on making friends and college parties because of it, but you gotta do what you gotta do.
- Avoid parent plus loans. Dinner doesn’t taste the same when you owe your in-law. $&@#ing hate that.
- Scholarships. I failed this hard. Just too lazy. I had great grades and was a high school athlete. Pissed it all away.
- If you have to take the govt loan, do not do any of their repayment plans. That’s how bad situations get worse.

 

[noharleyyet]

we are old enough we paid an average of maybe $400 per semester for tuition in state and univ of Texas so could work our wy through debt free in the 80s.

Whole different ballgame these days

Not UT, but yes, a very disparate debt service compared to the current rigged tenured bs.