31. Get the balance of my student loans under their original amount.

The day I’ve been waiting for since 2009 is finally here…I can actually start paying my loans DOWN now.

At 17 when I was signing off on my first student loans, I understood that I was going to have to pay them back at some point in my life. I even understood that there was something called interest which meant I’d actually owe more than what I had borrowed. I just never realized how MUCH more I would owe. 6% tax on a $50 sweater isn’t much. 6% interest on loans on loans on loans IS.

When I first got out of college, I was working three (very) part time jobs. I couldn’t afford the original monthly payments, so they were lowered based on my income. Even though I was putting a little bit of money towards my loans each month, the amount I owed was going up because my loans were accruing more in interest than I was able to pay each month. Ouch. Now that I have a “real” (full time) job, I pay MORE than my minimum payments so I can pay these loans off faster. I know that I won’t always be able to do that – someday I hope to have a house and a family and if I wait until my loans are paid off to do so, that “house” will be a nursing home!

It was incredibly frustrating to feel like I was getting nowhere with my loans…hitting this point is like just being able to see that there is a light at the end of the tunnel. The next milestone should come in a month or two – I will have paid off one loan in full!

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