Wednesday, May 27, 2015

The 27th (Loan 1-09 Paid Off!)

Today I paid $1009.27 extra on my student loans. I paid off loan 1-09 which had a balance of $752.07 and then I started on my ugliest loan that I hate looking at when I log in. I started on loan 1-10 with a balance of $4,473.48 and a 6.8% interest rate. Yuck.

 Here is the breakdown:

  • I put back $224.29 out of my 4/30 check which are my raises from the past 2 years I pretended that I never got, plus $100 for picking up an extra 4 hour shift.

  • I put back $179.99 which is for a conference that I had to attend to maintain my professional license. My employer reimburses these costs, so I pretend like they do not and put this towards my loans.

  • On 5/15, I got a quarterly bonus from work of $405.70.

  • On 5/15, I also put back $124.20 from my paycheck, which are my raises for the past 2 years that I pretended like I did not get.

  • I also got a $50.00 check from my local consignment shop for selling things I no longer love or needed.

  • I also put back the difference between $200 and my actual debited payment of $174.91 which left a difference of $25.09

So with this money, I paid of loan 1-09. Remaining balance $752.07, now gone!

I applied the rest, $257.20 to loan 1-10. Remaining balance: $4,216.28.

It will be awhile before I pay off 1-10, but I will be so happy when I do.