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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

All Things Student Loan Forgiveness

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 loans. My answer was NO! Being debt free is the best thing I could ask for and I definitely do not regret it . You also should know that if you made payments on your student loans during the pandemic then you can receive a refund. 



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.


To receive a refund you need to call your loan servicer, ask for a refund, and wait 2 weeks - 2 months. This may differ based on your loan servicer. So if your wondering yes I did ask for a refund ! I plan to put the $14,180 I paid during the pandemic towards my emergency fund ! 

Student loan forgiveness may also be taxed according to your state . If you live in Mississippi, Wisconsin, Arkansas, or North Carolina then you may have to claim your forgiveness as income. While I am unsure of the amount you can expect to pay a few hundred bucks in taxes. This decision is typically left up to the state legislature so if you don’t agree with this write to them and let them know ! 



(Below is a thumbnail of my latest video “Student Loan Forgiveness May Be Taxed?!” where I am sitting in my office while looking at the camera with a shocked expression)


I want to know your thoughts on all of this . Be sure to drop down in the comments and let me know ! Also, don’t forget to head over to my YouTube channel to check out my latest videos on each of these topics ! 

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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

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