Tallying It All Up

14 Dec

In case any of you missed it, I accomplished my goal on December 3rd.  I paid off my undergraduate student loans, and I have the picture to prove it:

zero balance

After I finished dancing around the room and texting everyone I’ve ever known, I sat down to total all my payments for these loans.

Over this past year, I paid just over $12k.  Over the 8-year life of my loans, I paid just over $26k.  Since my original loan total was $23,300, I paid about 10% extra in interest.

I could have done a lot with $26,000: a nicer car, a bigger apartment, a lifetime pass to Dragon*Con (and ones for 5 of my friends as well), or a trip to any convention I wanted.

Instead, I have a college degree that informs my work life every day, and shaped my life in so many other ways.  I think I made the right choice.

Here’s hoping my graduate degree pays off in the same way.  Because really, there’s so much more I could do with $70,000.

One final note: this is the first New Year’s Resolution I’ve ever made and kept.  And no, next year’s resolution will not be to pay off my grad loans in a year, unless I win big on a lottery ticket in the next two weeks.  But I do have a new project starting on January 1st.  I’ll be posting more about that next week, so stay tuned.

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2 Responses to “Tallying It All Up”

  1. Donya Lynne December 14, 2012 at 5:47 pm #

    Congratulations! What a great feeling, huh? I’m looking forward to paying off mine, too.

    • Katie December 14, 2012 at 8:28 pm #

      It really is a great feeling. 🙂 Good luck with yours!

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