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
Hey Guys! I know it’s been awhile since my last post so I decided to do a recap of student loan forgiveness to get back on track ! By now we’ve all heard about student loan forgiveness and and heard out fair share of critics. Here’s the facts: 1. Singles who make less than 125K and couples who make less than 250K are NOT eligible for loan forgiveness 2. Pell grant recipients will receive 20K in loan forgiveness while those who did not will receive $10K 3. There is no overage. If you owe $4K you will only have $4K forgiven based on the restrictions above 4. There is nothing you need to do if the Department of Education has your income on file. If not, an application will be available in October 2022 5. The final student loan pause needs in 12/2022 Below is a thumbnail of my YouTube video “Do I Regret Paying My Student Loans?” where I am looking away from the camera with my finger under my chin. There is a perplexed look on my face. I recently was asked I regret paying off my student