Unfortunately, the universe seems to be out of alignment for all of us finance bloggers this week. It seems like one by one, we are all posting either a debt payoff delay or a posting delay due to life things. I do hope all our followers out there understand.
So here’s mine: I’m having a rough patch this week. As some of you know, I have depression, and this week has just been a down week for me, so my usual Monday-Friday series posts are going to be on hold until next week while I give myself a bit of a rest/get my life together/clean my house.
But I HAVE decided that starting (yesterday), I’m embarking on a financial fast (or as close to one as I can get). To make my end of July goal, things are going to have to be pretty tight for the next little bit here. My hours haven’t been adding up as expected, and while I’ll still be able to make my goal, it leaves me with very little left over from each paycheck. To make sure I stay on track, I’m taking on a new strategy for these next 2 months. Get paid: pay full amount budgeted for loan.
I have been making multiple weekly payments, $250 on Mondays and Wednesdays for $500/week, plus whatever I have “left over” in my budget.
A payment of $81.41 will be automatically deducted tomorrow for my student loan, because I get a 0.25% lower interest rate for allowing auto payments, and my other loan, while at a $0 balance, will take up to 30 business days to show paid in full, so I am still making a payments on it. The payment will be redistributed towards the remaining loan. I get paid this Thursday, June 4th, and I will pay $700 immediately. Then I will not be able to make another payment until June 18th. This means that I have a total of 5 student loan payments left, 9 more weeks on this federal financial journey.
After that, it’s the 11 month plan for the personal loan.
Thanks for sticking with me, guys. You’re the best.
Student debt can taint everything from one’s professional options to the ability to make critical financial investments. From narrowing career prospects to keeping you from buying a house, here are some of the main ways in which student debt can negatively affect borrowers’ lives.
What 2015 Graduates Need to Hear at the Commencement Address
Members of the graduating class, you who are about to receive your diploma should also receive an apology from this university and a refund of a large portion of the tuition you have paid. You have been cheated, bilked, propagandized, and badly educated. Your tuition has been much too costly, for which you can blame the federal government and the avarice of the university.
Every person in college or planning to go to college should watch this.