Getting Closer to Two More Milestones in My Student Loan Repayments

You know, sometimes I think about waiting a few extra days to post these updates. Why, you ask? Well, if I waited another week to post this update, then instead of saying that I just knocked another thousand bucks off of my student loan debt, I’d be able to say that I knocked another two thousand bucks off instead. That’s right, folks, I’m closing in on the $80 thousand mark in terms of total debt owed, but for now I’m at settled at $82 thousand and looking forward to hitting two big milestones in the next month.

The first of those milestones should be coming in the next few weeks when I hit $81 thousand outstanding. When I get to this point, I’ll have repaid $40 thousand in student loan principal since I started repaying these things in the summer of 2006. That’s incredibly significant! Lord knows how much interest I’ll have paid over that same time period…

The second of these milestones will be at some point next month when I hit $80 thousand outstanding. This dollar amount actually marks a double milestone since it’ll mark the $25 thousand balance outstanding in terms of how much that I owe to the New Jersey Higher Education Student Assistance Authority (NJHESAA) as well as the $80 thousand balance outstanding for my overall student loans.

Slowly, but surely, I’ll pay these things off.

In May 2006, I graduated from Rutgers University with a Masters Degree and $120,720 in student loan debt. I currently owe $82 thousand, which breaks down to $27 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.