When in Doubt, Stick to the Plan… Always Stick to the Plan!

Sticking to the student loan repayment plan has brought us back to a familiar place. I’m pleased to announce that effective a few days ago, my student loan debt fell from a total outstanding of about $84 thousand to $83 thousand. As I’ve said so many times before on this blog – another grand bites the dust.

And I plan on making these types of announcements over and over again until this New Jersey Higher Education Student Assistance Authority (NJHESAA) loan is retired. I’m going to keep on making these announcements because I intend to stick to my repayment plan. I wrote this back on January 26, 2010:

So, as I’ve said before on this blog – get used to reading these types of entries because I am committed to attacking one of my two outstanding student loans this year. If I can stick to the plan that I created in December, I’ll rid myself of the $39 thousand debt remaining on my NJHESAA loan in the next 18 to 24 months. And, believe it or not, time seems to be flying by these days so I could potentially be free from this loan before you even know it.

Time certainly is flying – here we are at June 7, 2010 already. Can you believe it?! Back on January 26, 2010, I owed $39 thousand to the NJHESAA. Today, I owe about $28 thousand. Reducing that student loan by about $11 thousand in about four and a half months is pretty damn good, I think. However, like one of my friends and commenters Justin and I wrote about in the comments section of a recent entry, that’s $11 thousand that is not contributing to the economy and another $28 thousand that I have no plan to work back into the economy any time soon.

And that doesn’t even begin to touch the $55 thousand that I still owe to the United States Department of Education (USDOE)… But that’s for another blog entry at another time. Today, join me in celebrating another thousand bucks off of my student loan debt!

In May 2006, I graduated from Rutgers University with a Masters Degree and $120,720 in student loan debt. I currently owe $83 thousand, which breaks down to $28 thousand owed to the New Jersey Higher Education Student Assistance Authority and $55 thousand owed to the United States Department of Education. Follow my student loan repayment story on JerseySmarts.com.