My student loan balance through 4 years of undergrad and ~4 years post graduation. Created with excel and photoshop. Some notes…
- Percentages are loan interest rates.
- In "Refinance 1" I combined all private loans into one, and also removed all my cosigners.
- I "only" paid $4k in interest since refinancing to 2.7%. The rest was paid/accrued before then.
- Automod keeps deleting my post if I leave a comment so instead the info is here in the post.
Posted by DiabolicDiabetik
12 comments
What happened in August 2023 that you could afford to pay off $15,000?
How were you able to refinance your loans at these lower rates? I have some unsubsidized federal loans and much better credit than when I took them out, but when I combined them all together, they only averaged the interest rate. Is it just because your loans are private?
As a commuter who went to a public university in California, you paid more in interest than my entire degree costed.
It just goes to show how much State and Federal funding play in university affordability.
Congrats on paying down your debt though, those saving habits will no doubt be huge to getting your mortgage paid off in the future
Wow, and I did a 3 year college course, plus rent for like 6 months and food, and at peak owned $36k, Canadian even. It was for Electrical Engineering, and back in 2012. Making about 100k/year now.
Damn I’m happy to not have to deal with that
What degree and university did you pick that justified 120k in debt? Hopefully that was a great school renowned for whatever program you were in. Sure hope that wasn’t 120k for something you could have done at a public uni.
Good golly. You either make a ton of money or you live like a college bachelor still. $119,000 in 4 years is obscene.
Freezing interest rates was the best thing that could have happened for people to pay off their loans! Who knew – we don’t need gov to subsidize the cost or pay anyone just prevent loan sharks from fucking murdering people with interest rates in loans they took out as unknowing 18 year olds! I really wish this came up more often with this topic.
Man, talk about a “mountain of debt”. This really paints a picture
This genuinely gives me second hand anxiety. I got my CS degree with this sort of debt and really can’t imagine myself ever escaping it.
Aside, absolutely great work
Mine started around your peak, and they went up and up and up over 13 years, until they all went PSLF earlier this year. Congrats on being close to done!
This is what I will show my kid as an example of how to do it