MTSkiBum 1,587 Posted July 21, 2014 I paid off 55,000 in student loans in 3 years. I made my last payment over the weekend. Thankfully I was able to get the loans even though I did not have any leverage. My degree enabled me to get a great job. I did it by eating cheaply, driving an old vehicle with close to 200,000 miles, not having cable, living in a cheap apartment, and having cheap electronics. Having a good job helps, but many people graduate with a good job, but still take a while to pay their loans off. 1 Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted July 21, 2014 Congratulations. It must be good to have that burden off of your shoulders. Share this post Link to post Share on other sites
MDC 5,804 Posted July 21, 2014 I bet your parents didn't even buy you Apple stock or a retro car. Share this post Link to post Share on other sites
TimmySmith 2,782 Posted July 21, 2014 Great job. I remember paying off a 30K credit card bill in 2 years by scraping by and going without. Felt immense relief and have not used a credit card in 5 years. 1 Share this post Link to post Share on other sites
Kanil 519 Posted July 21, 2014 Awesome... and jealous! I still have about 20 months left on mine. Share this post Link to post Share on other sites
IGotWorms 3,248 Posted July 21, 2014 Congratulations I am seriously jealous. Without my wife and I's student loan payments we would be focking loaded. Paying off early seems unlikely though given the amounts at issue Share this post Link to post Share on other sites
Old School 360 Posted July 21, 2014 Although i seriously feel this is a great accomplishment to pay off your debts and become debt free, I feel like saying "dumbass" I have a feeling the government is going to do something major, perhaps just short of forgiving all student debt over the next few years. Nonetheless, good job. Has to be a great feeling. Share this post Link to post Share on other sites
IGotWorms 3,248 Posted July 21, 2014 Although i seriously feel this is a great accomplishment to pay off your debts and become debt free, I feel like saying "dumbass" I have a feeling the government is going to do something major, perhaps just short of forgiving all student debt over the next few years. Nonetheless, good job. Has to be a great feeling. Nothing that major. This will still work out heavily in SkiBum's favor. The government is working around the edges with public service loan forgiveness and more lenient payment schedules, but no way they could do a whole sale erasing of student loan debt. That sort of action is reserved for bailing out Wall Street only Share this post Link to post Share on other sites
Bert 1,085 Posted July 21, 2014 Nothing that major. This will still work out heavily in SkiBum's favor. The government is working around the edges with public service loan forgiveness and more lenient payment schedules, but no way they could do a whole sale erasing of student loan debt. That sort of action is reverted for the bailing out Wall Street only big banks and heavily unionized auto companies only. Congrats dude. We would be in a lot better shape if more people were as diligent. First round is on me next time you are in town and want to grab a drink. Share this post Link to post Share on other sites
NorthernVike 2,079 Posted July 21, 2014 Way to go. It's still possible no matter what the media tells you. Share this post Link to post Share on other sites
jerryskids 5,067 Posted July 21, 2014 I bet your parents didn't even buy you Apple stock or a retro car. I've never been so confident opening a thread and knowing it was NOT started by GF. Share this post Link to post Share on other sites
SUXBNME 1,294 Posted July 21, 2014 That sort of action is reserved for bailing out Wall Street only Seriously, dude? Share this post Link to post Share on other sites
Frozenbeernuts 1,652 Posted July 21, 2014 I got paid to go to school during my apprenticeship. I have to pay the wifeys tuition though. I pay cash. Dont like to pay interest. Share this post Link to post Share on other sites
IGotWorms 3,248 Posted July 21, 2014 Seriously, dude? Yeah, seriously Share this post Link to post Share on other sites
The Moz 69 Posted July 21, 2014 I paid off 55,000 in student loans in 3 years. I made my last payment over the weekend. Thankfully I was able to get the loans even though I did not have any leverage. My degree enabled me to get a great job. I did it by eating cheaply, driving an old vehicle with close to 200,000 miles, not having cable, living in a cheap apartment, and having cheap electronics. Having a good job helps, but many people graduate with a good job, but still take a while to pay their loans off. Wow congrats man. Not for paying off the loans but for being able to be that disciplined over 3 years ... very few as in maybe 2-5% of people out of school would have the will power to do that. Must of have a good upbringing. Share this post Link to post Share on other sites
JTB 52 Posted July 21, 2014 I paid off 55,000 in student loans in 3 years. I made my last payment over the weekend. Thankfully I was able to get the loans even though I did not have any leverage. My degree enabled me to get a great job. I did it by eating cheaply, driving an old vehicle with close to 200,000 miles, not having cable, living in a cheap apartment, and having cheap electronics. Having a good job helps, but many people graduate with a good job, but still take a while to pay their loans off. Talented people don't have student loans. It's a tip. Share this post Link to post Share on other sites
IGotWorms 3,248 Posted July 21, 2014 Talented people don't have student loans. It's a tip. Share this post Link to post Share on other sites
Bert 1,085 Posted July 21, 2014 Talented people don't have student loans. It's a tip. He doesn't have student loans so I guess that makes him pretty talented. Share this post Link to post Share on other sites
MTSkiBum 1,587 Posted July 21, 2014 Talented people don't have student loans. It's a tip. I dont get this. How else was I going to pay for school? The fact that I was able to get student loans, meant I could get a degree in chemical engineering. This opened up careers to me that would have not been possible without the degree. I am extremely happy that I was able to get student loans, even though it meant I started my career in debt. Share this post Link to post Share on other sites
IGotWorms 3,248 Posted July 21, 2014 He doesn't have student loans so I guess that makes him pretty talented. Is this JTB fella an idiot or what? His statement was doubly stupid - first because it was just dumb to start with, and second because it didn't even apply to the OP or his current situation. Share this post Link to post Share on other sites
Bert 1,085 Posted July 21, 2014 Is this JTB fella an idiot or what? His statement was doubly stupid - first because it was just dumb to start with, and second because it didn't even apply to the OP or his current situation. Pretty stupid statement all the way around. Share this post Link to post Share on other sites
Mile High Drunk 13 Posted July 21, 2014 I think he is saying people who got athletic scholarships didn't have to pay for school. At least that is how I am going to take it. Share this post Link to post Share on other sites
JTB 52 Posted July 21, 2014 I dont get this. How else was I going to pay for school? The fact that I was able to get student loans, meant I could get a degree in chemical engineering. This opened up careers to me that would have not been possible without the degree. I am extremely happy that I was able to get student loans, even though it meant I started my career in debt. Scholarship. Academic or athletic. Thank you baseball!! Share this post Link to post Share on other sites
Mile High Drunk 13 Posted July 21, 2014 Scholarship. Academic or athletic. Thank you baseball!! I saw what you were saying... Share this post Link to post Share on other sites
JTB 52 Posted July 21, 2014 I saw what you were saying... After rereading my original post I see how it sounded crass. I lucked out.... MLB paid for my education. Share this post Link to post Share on other sites
Sho Nuff 719 Posted July 21, 2014 After rereading my original post I see how it sounded crass. I lucked out.... MLB paid for my education.They wasted their money. Congrats MT...nice to be out of that. I only had about $5k after college to pay off. But remember paying it off, and our cars and feeling a huge burden lifted. Share this post Link to post Share on other sites
Voltaire 4,492 Posted July 22, 2014 Congrats. What are your plans for you new windfall of free and clear cash? Share this post Link to post Share on other sites
BiPolarBear 476 Posted July 22, 2014 I don't get this. That is because you're sane. Great job, man. Share this post Link to post Share on other sites
SUXBNME 1,294 Posted July 22, 2014 Yeah, seriously Sorry...I guess my point is that not only wall street gets bail outs. the IRS gives peenies (like the sp?) on the dollar to help you get caught up, credit card companies do the same...I'm sure that there are more examples than just the Feds giving bail outs to evil wall street. Share this post Link to post Share on other sites
MTSkiBum 1,587 Posted July 22, 2014 Congrats. What are your plans for you new windfall of free and clear cash? Saving for retirement. Share this post Link to post Share on other sites
hoytdwow 202 Posted July 22, 2014 look at me look at me!!! Share this post Link to post Share on other sites
Giants Fan 85 Posted July 22, 2014 Although i seriously feel this is a great accomplishment to pay off your debts and become debt free, I feel like saying "dumbass" I have a feeling the government is going to do something major, perhaps just short of forgiving all student debt over the next few years. Nonetheless, good job. Has to be a great feeling. This. Look, it's this simple, there are less jobs, and more people than there were 30 years ago. Student debt has skyrocketed, and it's no longer dischargable via bankruptcy. So no jobs + lotta student debt = bubble about to burst. But congrats. Way to power through it. Chemical engineering should be a pretty lucrative field to be in, right about now. Share this post Link to post Share on other sites
penultimatestraw 473 Posted July 22, 2014 Saving for retirement. You need to prioritize saving for your next ski vacation Also, between those suggesting acquiring student debt is for the untalented and others critiquing you for not waiting for a government bail-out there is a whole lotta stupid in this thread. Share this post Link to post Share on other sites
Reality 2,700 Posted July 22, 2014 I paid off 55,000 in student loans in 3 years. I made my last payment over the weekend. Thankfully I was able to get the loans even though I did not have any leverage. My degree enabled me to get a great job. I did it by eating cheaply, driving an old vehicle with close to 200,000 miles, not having cable, living in a cheap apartment, and having cheap electronics. Having a good job helps, but many people graduate with a good job, but still take a while to pay their loans off. Well done, very impressive. Also, between those suggesting acquiring student debt is for the untalented and others critiquing you for not waiting for a government bail-out there is a whole lotta stupid in this thread. True statement. Share this post Link to post Share on other sites
Giants Fan 85 Posted July 22, 2014 Irregardless of how much money my family has, NYU still expected me to pay my bills. See, you wouldn't know this but I also applied to Columbia for grad school, and got rejected. I coulda been a snotty, white aristocratic, ivey league a-hole. So ... You all have that to be thankful for. Share this post Link to post Share on other sites
Giants Fan 85 Posted July 22, 2014 I have had so many problems with Sallie Mae ... i will never send them a dime. Long, long, story. Share this post Link to post Share on other sites
Reality 2,700 Posted July 22, 2014 I have had so many problems with Sallie Mae ... i will never send them a dime. Long, long, story. Stunner... Share this post Link to post Share on other sites
Giants Fan 85 Posted July 22, 2014 Let me put it this way: sallieMaesucks.com was already taken. It's not just me. It's not as if the problems just materialzed because I posted in this thread. Share this post Link to post Share on other sites