Skip to main content

My One Year Student Loan Payoff Update

  January 28, 2022 marked my one year anniversary of paying off my student loans . Reflecting back on choosing to pay off my student loans leaves me with several take a ways that I want to share with you! In September 2020 I decided to become debt free by utilizing the debt snowball method to pay off all my debt. Before this I had struggled to save and really understand basic financial principles. As a first-generation college student, I received a scholarship to attend undergrad for free, but the scholarship did not cover summers. During the summers I took out student loans to cover costs without paying interest rates or how much I was taking out. By the end of undergrad I had amassed a little under $17K. Fast forward to graduate school I received another scholarship that covered my education. At the time I was a teacher in a new very expensive city and I had missed the cutoff to have my paycheck last me throughout the summer. So, I decided to take out a loan for two summers to keep
Post a Comment

I Got A Refund! What Should I Do With It?

 

I got a refund! When I got the email notification that I would be receiving a refund my excitement went through the roof! This is the first time that I have received a refund since undergrad! In case you’re wondering, a refund is the overage from your financial aid that you receive once everything has paid out. With this being the summer semester and funds being limited I was not expecting this at all.

Figure 1: This is a thumbnail of my latest YouTube video on I Got a Refund! What Should I Do With It? Where I am looking excited!


The extra money that I received came from a summer grant and CARES Act funding. Since I had already paid my tuition fees for this semester I was able to receive a total of $632 of FREE money! Free money means that I do not have to pay any of this back and it is mine to use as I please! You’re probably wondering well how did you get a grant when funds are limited during the summer? Did you apply for this? While I did apply for the CARES Act funding, I did not apply for the other summer grant that I received. I assume that it was likely overage from not as many students being enrolled during the summer or from students that did not meet a certain set of stipulations that I just so happened to meet.



Figure 2: This is a photo of a one-hundred dollar bill. 

I plan to use this money to further my debt free journey by pushing it towards my student loans. When you receive any type of refund you want to make sure that it is put towards any goals that you have that will help you to reach your ultimate purpose. Right now, my purpose is to become debt free so that I can create a legacy for my future family. So don’t just blow it on a vacation or something that you don’t need! Did you get a summer refund? If so, how are you spending it? What financial goals are you currently working on? Drop down in the comments and let me know and be sure to check out my latest video on the topic!

Figure 3: This is a photo that says "Dream Big, Set Goals, Take Action".



SUBSCRIBE: I Got a Refund! What Should I Do With It?

PURCHASE MY EBOOK HERE: Link for eBook

Coupon Code: Ms. Duggan


Comments

Post a Comment

Popular posts from this blog

My One Year Student Loan Payoff Update

  January 28, 2022 marked my one year anniversary of paying off my student loans . Reflecting back on choosing to pay off my student loans leaves me with several take a ways that I want to share with you! In September 2020 I decided to become debt free by utilizing the debt snowball method to pay off all my debt. Before this I had struggled to save and really understand basic financial principles. As a first-generation college student, I received a scholarship to attend undergrad for free, but the scholarship did not cover summers. During the summers I took out student loans to cover costs without paying interest rates or how much I was taking out. By the end of undergrad I had amassed a little under $17K. Fast forward to graduate school I received another scholarship that covered my education. At the time I was a teacher in a new very expensive city and I had missed the cutoff to have my paycheck last me throughout the summer. So, I decided to take out a loan for two summers to keep
Post a Comment
Read more

How to Get a Free Doctoral Degree

Hey Guys! It’s been awhile right?! I know but I am back and ready to give you all the information you need! If you missed it last week on my channel , I discussed how you can get a free doctorate degree. If you’ve been following my doctoral journey, then you know that I am currently working towards my doctoral degree in higher education. I recently finished all of my coursework and I am officially working on my dissertation proposal this semester. I chose to work at a university so that I could not only work with students but so that I could also receive a discounted education. In the beginning of my journey, I received a $1,600 stipend towards my courses, and I paid fees out of pocket. I also received several scholarships along the way that helped to cover most of my fees. Last year my university decided to cover doctoral degrees at 100% for all professional staff which was a major benefit. While I understand that most folks do not want to join the education world don’t let this s
Post a Comment
Read more

The Department of Education Changed the rules for student loan forgiveness

 The Department of Education has "silently" changed the rules to student loan forgiveness that will affect at least 800,000 borrowers. On September 29, 2022 the Department of Education made a few changes for those who obtained the Perkin's and Federal Family Education loan.  Here is the language directly from the Dept of Education "As of September 29, 2022 borrowers with federal student loans not held by ED cannot obtain one time debt relief by consolidating those loans into direct loans". Previously individuals who did obtain theses loans were able to receive loan forgiveness. Figure 1: This is a thumbnail of my latest YouTube video "Student loan forgiveness guidelines have changed" where I am sitting in my office while looking at the camera with a suspicious look.  Many speculate that potential lawsuits could be the reason why the Dept of Ed has changed it's language recently. Long story short the banks who insured these loans will not receive an
Post a Comment
Read more