Just paid off my student loan

[Matt Collins]

Lots of people owe me money at the moment unfortunately. Today I received one of the checks due to me in the mail. Paid off my sole student loan with it this evening. It took 8 years to wipe it out, although if work had been a bit more steady I could've done it a few years earlier. But 8 years from graduation to re-payment... I wonder what the average length of time is most people take to re-pay their student loans?

 

[oyarde]

Lots of people owe me money at the moment unfortunately. Today I received one of the checks due to me in the mail. Paid off my sole student loan with it this evening. It took 8 years to wipe it out, although if work had been a bit more steady I could've done it a few years earlier. But 8 years from graduation to re-payment... I wonder what the average length of time is most people take to re-pay their student loans?

Congratulations.I never pd for any of mine or needed loans .Just got my employers to pay cash for it all up front even though much of it was not work related.I have no idea what the avg may be , but I suspect if a person financed most of a degree , now it would take longer than 8 yrs on avg.Good job Collins

 

[robskicks]

my loans are for 25 years

 

[Tod]

Lots of people owe me money at the moment unfortunately. Today I received one of the checks due to me in the mail. Paid off my sole student loan with it this evening. It took 8 years to wipe it out, although if work had been a bit more steady I could've done it a few years earlier. But 8 years from graduation to re-payment... I wonder what the average length of time is most people take to re-pay their student loans?

Very good! Feel a bit less burden on your shoulders now?

Debt is pretty much a form of slavery

 

[oyarde]

Very good! Feel a bit less burden on your shoulders now?

Debt is pretty much a form of slavery

It is when you owe it to the govt.

 

[satchelmcqueen]

good matt. id say average is 20yrs. my wife will start to repay hers starting this coming summer. i hope she can get a job in her field. if so, she can do it in 5 yrs, but itll be slim pickens on the fun side of life until then.

 

[oyarde]

my loans are for 25 years

My home loans are 20.

 

[brandon]

My girlfriend should have hers paid off in 5 years total time, thanks to pressure from me. She was on like a 15 year plan, but I told her no kids until the loans are gone.

 

[Zippyjuan]

Congratulations! Now you get to keep more of your money. You also effectively gave yourself a raise- increasing disposable income. I paid off my mortgage about a year ag0- 13 years. My student loans were a while ago and very small. Those I paid in three years.

 

[fr33]

Good job. Now start saving more for your next investment.

 

[PaulConventionWV]

Lots of people owe me money at the moment unfortunately. Today I received one of the checks due to me in the mail. Paid off my sole student loan with it this evening. It took 8 years to wipe it out, although if work had been a bit more steady I could've done it a few years earlier. But 8 years from graduation to re-payment... I wonder what the average length of time is most people take to re-pay their student loans?

Took me a few weeks. Only ever had to borrow a couple thousand bucks.

 

[shane77m]

Got about 25 more years on my wife's student loans. We could buy a very nice house for what we are paying back.

 

[Seraphim]

Holy shit...that IS a mortgage...dear lord...

Got about 25 more years on my wife's student loans. We could buy a very nice house for what we are paying back.

 

[PRB]

I love hearing about people getting rid of debt!

And I hate hearing people say "I COULD pay off my loan, but then what would I do if I don't have savings and I need it one day?" or "Yeah, I could pay if off, but it's only $200-500 a month, what's the big deal?"

 

[PRB]

Got about 25 more years on my wife's student loans. We could buy a very nice house for what we are paying back.

what was the degree in?

 

[helmuth_hubener]

Congratulations. I am happy for you.

Now you can start loading up your Harry Browne Permanent Portfolio, yes?

 

[jbauer]

Heck I'm not that old but school only ran $4k/semester plus living expenses. I worked through college (like a dog, so it supplied me with money and less time to drink beer) and walked away debt free as far as college goes.

Now my mortgage that'll take awhile, kids are like a never ending bucket of money with a gapping hole in the bottom.

 

[Matt Collins]

Congratulations. I am happy for you.

Now you can start loading up your Harry Browne Permanent Portfolio, yes?

Not quite yet, got some other debt to get rid of first, got to save for another car too.

 

[heavenlyboy34]

Got about 25 more years on my wife's student loans. We could buy a very nice house for what we are paying back.

I've only got 3-5 left on mine...haven't run all the numbers yet. Hope your wife got a darn good education for that kind of FRNage!

 

[helmuth_hubener]

Not quite yet, got some other debt to get rid of first, got to save for another car too.

Right on. Nice to have one fewer monthly payment, though!