Bye-bye, school loans!!!

[TrojanSkyCop1]

Wasn't sure at first whether to post this in "Open Source Roundtable" or in this Forum, but seeing how I now have more $$ to put into the Bon Vivant lifestyle, here goes.....

Major milestone achieved: 16 years to that day after I graduated from college, I've FINALLY paid off the last of my school loans (my Stafford Loan). Good riddance, school loan debt, you served your purpose back in the day, for which I'm forever grateful, but you've long since worn out your welcome by being a drag on my disposable income, so don't let the door you in the arse on the way out!!! Fight On!!!
:biggrin::thumbup::headbang:

[Brent Yamamoto]

Congrats man, that's awesome!

Salud!

[tkarter]

I paid mine off too. Millions in Chicago never will. Who do we applaud?

[Texican_gal]

Congrats, TSC! :beer:

I'm thankful I graduated when loans weren't necessary.

[Foxpup]

That's huge news!

[NateR]

Nice man, congrats. I still have mine, but I'm not through with school yet, either. Should be going back to finish up this fall.

N

[TrojanSkyCop1]

Thanks, Tribe, it's a damn good feeling! :bliss:

Now, mind you, conventional wisdom says that I should've paid off the credit cards first, due to the higher interest rates. Well, I decided to defy conventional wisdom (just like a WT Pirate would and should, right?) and pay off the school loan first, as it was mere dead weight that did nothing for my buying power and remained at
a fixed monthly payment (as opposed to a credit card, wherein the more I pay off, the lower my monthly payment). School loans are also inflexible, with no
option for bankruptcy protection or anything of the sort; if you default on 'em, you are F*GGED!

Plus, after reading financial news stories about the pending student loan "bubble" bursting and thus burgeoning another financial crisis, I figured that I sure as hell didn't want to be a direct contributor to that debacle!

[AlwaysVigilant]

We did the same thing with my wife's student loans. They have been paid off for about 3 years now. Huge burden removed. Congrats!

[PCGlock]

Congrats TSC, I know they suck. One day I will be able to say the same.

[Mervo]

Killer job brother, super jealous. I got 37K to go.....

[WinstonSmith]

Congrats! We still have years to go, but the interest rates are at or below inflation, so I don't worry about them as much.

[TrojanSkyCop1]

Thanks, Tribe, it's a damn good feeling! :bliss:

Now, mind you, conventional wisdom says that I should've paid off the credit cards first, due to the higher interest rates. Well, I decided to defy conventional wisdom (just like a WT Pirate would and should, right?) and pay off the school loan first, as it was mere dead weight that did nothing for my buying power and remained at
a fixed monthly payment (as opposed to a credit card, wherein the more I pay off, the lower my monthly payment). School loans are also inflexible, with no
option for bankruptcy protection or anything of the sort; if you default on 'em, you are F*GGED!

Plus, after reading financial news stories about the pending student loan "bubble" bursting and thus burgeoning another financial crisis, I figured that I sure as hell didn't want to be a direct contributor to that debacle!

And, for good measure, last night I paid off one of my credit cards! :banana:

[Al Lipscomb]

Now, mind you, conventional wisdom says that I should've paid off the credit cards first

What most people don't realize is that with Student Loans is that they are not bankruptable. So if something happens (and you survive) they will get their money no matter how bad off you are. I cannot wait until mine are gone.

Then more money for the good things in life.

[Dorkface]

Well done! I remember the feeling when i paid off my first round... then a few years later i decided to get another degree lol.

[TrojanSkyCop1]

What most people don't realize is that with Student Loans is that they are not bankruptable. So if something happens (and you survive) they will get their money no matter how bad off you are.

DING-DING-DING!!! Winner, winner, chicken dinner!!!!

[Grey Man]

Still paying for Mrs. Grey Man's :( Another 3 years then I get to deal with mine :ouch:

[ERN]

Congrats. That is a big day and a great feeling.

[Shooter76]

Since Obama is calling for a student loan bailout, it looks like you should have waited...

http://online.wsj.com/article/SB10001424127887324059704578471223436096876.html (http://online.wsj.com/article/SB10001424127887324059704578471223436096876.html)

[michael]

You just got a raise!

[BillyOblivion]

What most people don't realize is that with Student Loans is that they are not bankruptable.

If you don't know your student loans are not dischargeable in bankruptcy then you probably have a liberal arts degree.

(for the record I don't have a liberal arts degree. I wasn't that smart, I have a *fine* arts degree)

[Base Bleed]

Congratulations!!!

[TrojanSkyCop1]

You just got a raise!

That's one way to look at it!


Well done! I remember the feeling when i paid off my first round... then a few years later i decided to get another degree lol.

I decided to wait until I had my GI bill before starting my post-grad degree program.

[TrojanSkyCop1]

And, for good measure, last night I paid off one of my credit cards! :banana:

And two more credit cards paid off this month! Woot-woot...

[temposhot]

And two more credit cards paid off this month! Woot-woot...

Congratulations on paying things off. I know that's a wonderful feeling. As you say, now you have more to live the Bon Vivant lifestyle.
Scott

[TrojanSkyCop1]

Congratulations on paying things off. I know that's a wonderful feeling. As you say, now you have more to live the Bon Vivant lifestyle.
Scott

Amen, brutha.