No. of Recommendations: 1
1-2 years
3-5 years
5-10 years
10-20 years
over 20 years

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If I count only my student loans, 3-5 years. If I count my kids' student loans, 10-20. Probably closer to 10.

Still a bargain.
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Other: 6 months to 1 year, depending on when DH gets a job after being laid off. We started on January 1, 2000, so it'll end up being 3.5-4 years altogether.

mlk58
$115,366 down, $17,540 to go (but who's counting...)
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why not an option for those of us who are free NOW and are rooting for all of you.
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<<<why not an option for those of us who are free NOW and are rooting for all of you.>>>

I was trying to get a feel for time periods (that and there aren't enough vote slots (I wanted a never in debt/out of debt selection, and of course a debt in my pants selection, but I failed.)
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Well, my freedom day would have to be counted as 3-5 years since you included student loans. But given that my student loans are at 2.86%, I am not in any hurry to pay those down as I am focusing on savings right now.

DT
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Yup, I voted for 10 to 20 years because we are about to consolidate our student loans and pay them off over the longest time period possible (20 years, I think). Why? What's the last time you saw anyone offer personal credit for 20 years with a tax-deductible rate of under 3.5%? I'm in no hurry.
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Sheesh - I've been kind of afraid to calculate how far out into the future this is going to drag on.

I 'guess-timated' 3-5 years. Ask me in 3-5 years. :-)

FF
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If all goes according to plan, I should be out of debt by March.

But yesterday, when I was pulling out onto the road, my truck was a little attached to 1st gear....grrr.
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I only had $5,000 in student loans, which were paid off many years ago.
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If all goes well and there are no bumps in the road, August 2004. But as I know there will be bumps (just hopefully not too many!) it will probably be more like December 2004. Just in time for a Christmas present to ourselves! :-)
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No flippin' idea. Still just trying to stay afloat. Good things are possible soon, though. (You know the stage where you find yourself thinking, "well, at least the balance went down by $2.00..")

- karen
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Sorry for the late response. I based my "3-5" vote on credit cards alone. DH and I have snowballed away $9K of CC debt over the last two years, and still have $14K to go. For now, I will gladly consider myself "free" when the CC monster is off our backs.

The student loans, though comparable in value to a small mortgage, just don't irritate me the way that the CC debt does. It's the old "good debt, bad debt" comparison. I tend to view the CC debt as irresponsible debt, primarily the result of being "f"oolish. The student loan debt, while certainly no picnic, is more "F"oolish to me.

Interestingly, before long I will arrive at a point where the interest rate on my credit card debt is lower than that of one of my student loans... I'm not sure what path my snowball will then take; whether the hunger to eradicate the CC debt will win out over my desire to pay the least possible interest...

Good luck to you all.
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