Number of Payments: 109
Original Balance: $46,769.87
Total Amount of payments: $30,520.92
Amount applied to principal: $22,718.87
Amount applied to interest: $10,009.22
Current Balance: $24,200.02
I have this all in a table. I’ve come a long way. Still sickens me to know that I paid $10k interest for anything in my life. My car is 0% interest. I pay my credit cards in full to avoid paying $1 in interest. Yet the student loans. I managed to pay 5 figures in interest.
What you focus on is what you make a dent in. I’m about to make some huge progress on this student loan debt and am sort of giddy about it. Just shy of 2 years on the not super aggressive plan and and more like 12 months on the very aggressive one. Using all the money from the house, tax refund and my eventual bankruptcy settlement toward the loan. Don’t want to be irresponsible and I’m not sure I fully trust myself leaving it in a liquid account.
Things may be tight but I want to keep at this and not take another 13 years to pay off the loan. That is all.