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At Christmas two years ago, I decided to get serious about my debt. That first year, I paid off about 2100 bucks in credit card debt.

Last Christmas, I began focusing on the infamous student loans.

This morning, I wrote the payoff check for my unsubsidized Student Loan.

One down, two to go. :)

The total amount paid on the unsubsized loan was $12,573.84.

As long as I carry 6 undergraduate credit hours, the remaining two loans are in deferrment--zero percent interest.

The amounts on them are

Loan 1- $1693.21 (slated to be paid off before Christmas)
Loan 2- $30,092.81 (will definately be under 30K by Christmas; pay off scheduled for Feb 07, god willing and the creek don't rise.)

I am pretty proud of myself.

:D

bleplatt
toes tapping
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Well, we're proud of you too. Keep up the good work.

mz00m
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Good job! Keep up the good work.
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I am pretty proud of myself.

As you should be.

As long as I carry 6 undergraduate credit hours, the remaining two loans are in deferrment--zero percent interest.

I have a question. Are these hours going to something or are you taking them to maintain the deferment?

Fred




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Fred--

Sallie Mae doesn't distinguish between taking classes and going for a degree. I had originally started working on an art degree (a digital graphics minor actually), but the classes are not currently being offered at a time that corresponds with my schedule. (I still trying to complete the graphic arts minor--one class is the issue.) As a result, I've been taking classes in the Dance and Theater depart. I may actually end up getting a BA of Liberal Arts--it's 3 areas of concentration within the College of Arts Humanities and Social Sciences.

:D

hth.

bleplatt
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Here's what I was getting at: are you spending more on classes that don't mean much to you than you would on interest on your loans? Or is class time that you are spending money on using up time that you could use to get extra income?

I see that you are an associate professor, are the classes discounted or free of charge?

Fred
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Here's what I was getting at: are you spending more on classes that don't mean much to you than you would on interest on your loans? Or is class time that you are spending money on using up time that you could use to get extra income?


Gotcha


My school offers tuition discounts to full time employees--it used to be $5.00 per credit hour and fees; this was recently raised to 10% of tuition costs (or abot 13$ per credit hour).

My loans are at 7.75%--I was paying about 300 bucks a month in interest. (or about 3600 per year.) My tuition costs me about 5-600 per year.

Clearly a deal.

I know a number of peoplel who take classes at a community college to get the same deal; much cheaper tuition.

b


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That seems like a pretty good deal.

The only reason I was asking was because Dave Ramsey got a caller a week or so ago and the woman was using student loans to supplement her low income. She kept them in deferment by continuing to take classes and just kept getting deeper and deeper in debt. I was amazed by the story.

She seemed to not have much problem with what she was doing. You are obviously working to pay the loans off. Good luck.

Fred
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Woo-hoo! Go, bleplatt!

<warming up the blender for the margaritas>

:-) That's definitely a happy dance!


--Booa
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Fred--

Sallie Mae doesn't distinguish between taking classes and going for a degree. I had originally started working on an art degree (a digital graphics minor actually), but the classes are not currently being offered at a time that corresponds with my schedule. (I still trying to complete the graphic arts minor--one class is the issue.) As a result, I've been taking classes in the Dance and Theater depart. I may actually end up getting a BA of Liberal Arts--it's 3 areas of concentration within the College of Arts Humanities and Social Sciences.

:D

hth.

bleplatt


Plus with all that ballet, you can bounce a quarter off bleplatt's posterior. :-)


--Booa
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