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If you've still got a $30,000 Zero Balance transfer out there, isn't it more appropriate to say that: while you may no longer have a bona fide "student loan", you still do have student loan debt?

Greetings, W505a, indeed I do consider that I have a form of student loan debt yet BUT I no longer owe it to Direct Loans! And what I am doing over the next year is saving like crazy to be able to pay of that $30K before a penny of interest is generated on it. I am banking the bulk of those savings to EARN interest while paying a smidge above the minimum each cycle to the credit card balance. Then, all at once next May, I am going to slam down the entire elephantine balance remaining on the card at once, bringing it to a zero balance with dizzying speed and THAT will be the true denouement. The great fun here is that over the next year I will actually be EARNING interest on the balance that I would otherwise have had to PAY interest on.

What lets me sleep at night over this are two facts: 1) I have disability insurance in case of a catastrophe, which is designed to replace the bulk of my income should there be a disruption, heaven forfend. And 2) I am willing to pull that $30K out of my retirement savings if I must, since I have had a Roth for over 5 years with my own contributions sufficient to tap if it came to that.

But say it won't (I've done this twice before, once with swatting down $30K onto the student loan a couple of years ago and another time last year to cover the downpayment on my house which was then paid off over the ensuing 12 months - not the mortgage, just the downpayment!). If all goes according to plan, then next June I will be left with only my mortgage as debt and am researching whether I want to accelerate payments on it, or to boost savings instead. This falls in the category of a good problem to have!

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