Let’s Talk About Student Loans

Everytime I see my student loan bill every month or even think about what I owe one of two things happen;

1-I want to shove every extra penny at them to make them go away quicker

2-I try not to stress and realize I’m on the right path

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I don’t regret having student loans.  I chose to go to a private college and it was meant to be-it changed me in ways another university or experience couldn’t and in the end it justifies the loans.  I do however regret having to take out what I did.  In my defense however, I took out what a regular teaching salary would knock out in 3-4 years (or if you’re frugal like me, 2-3).  The teaching profession and hire rate changed from the time I started college to the time I left-teaching jobs are scarce and if you do manage to get one, you’re either REALLY REALLY good or have a good in.  I was blessed to find a wonderful teaching job a year ago myself, when I know many would be teachers still searching for a job 3 years later.

Since I’m a private school teacher, my salary is more modest (under 30K if you’re interested) and the cost of living is high.  Add in my student loan payments and I cringe.  I’m not like many of the ‘I paid off my student loans in 19 months!’ people because I don’t make a ton of money.  I do part-time jobs on the side which does add up to a few thousand a year, but my pay off is still low.   Regardless, I pay as much extra as I can every month because I want the darned thing gone.

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Ultimately my goal is pay them off within the next 5 years when I’m 30.  It’ll take a lot of hard work, but I can do it.  The sooner they’re gone the sooner I’ll be able to live, truly.  I’ll be able to travle, buy a new car and not have to have such a strict budget.  I do plan on keeping tabs on my student loans here at some point, but I’m trying to do more planning before then.

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I took out student loans because I wanted to attend a specific college and I don’t regret it for a second.  I went to college because I wanted to be a teacher, done.  I took out student loans and I plan on paying them back as quick as I can-regardless of whether I get forgiveness or not. If I get the student loan forgiveness for being a teacher in 5 years, great. If not, I’ll be chugging along.  There’s a lot of talk about the student loan debt and who know what it’ll look like in the next 5 years.

All I know is, I plan on being debt free in that time, mark my word.

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