Student loans….againPosted: September 19, 2012
I sent in my first “real” student loan payment the other week and it applied to my account today. I felt such a thrill! Granted for a little over a year now, I’ve been making “payments” but it didn’t feel real as it was to get the loans out of default status. And the one loan went into deferment so I haven’t made a payment on it. (As much as I wanted to, the car had to come first along with a few other items that cropped up unexpectedly. I’d much rather not make a payment on something that isn’t due yet then have to withdraw the money from our very baby emergency fund. Maybe that isn’t what other people would do but I’m okay with that. I had to make a tough choice and went with what I thought was best for us.)
It didn’t go down by much-I only paid an extra $2.15 (roughly) as I just can’t afford to pay anymore yet. But it was roughly 1% of my loan that I paid. Ouch, that hurts to see small number right there in black and white but I’m still happy that I’m on my road to debt recovery. It’s slow going and sometimes I feel like I’m taking breaks (i.e. not paying more than I am and not paying on the loan that is in default) but I’m still moving forward.
Eventually we won’t have a wedding we’re paying for that takes up a lot of any “extra” money. And, I’m proud of how we are doing it, so don’t get me wrong there. But when we are able to concentrate on getting out of debt, I’m going to be even happier. Eventually I can see us making double payments but that day isn’t close to being here yet.
So yes, it might be too soon for the fireworks but I’m extremely happy about this turn in events. We’re on the right path and every little battle is worth it right now.