I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

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I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby velvet » Fri Feb 13, 2009 8:23 pm

Yesterday I mailed the check. The huge check for $2500. I basically paid all my financial aid this semester (and paid for the books and supplies with my own money) towards paying off the old student loan. This symbolizes a lot for me. The loan was a huge mistake. I took the loan when I started school at fancy university 12 years ago. I expected to be able to finish school right away, I didnt expect a physical and emotional breakdown that was huge. I didn't expect that I'd end up saddled with a huge debt that I then couldn't pay. It was an immense failure to me to watch the loan fall into default, and accrue fees and charges doubling the original amount from $5000 to $10,000. I was extremely poor, and unable to work. It was a choice between buying food to eat, barely enough, and paying the debt. I hated that choice, but I had to choose to eat and pay the rent. and I hoped it would be something I could eventually fix even though I couldnt see a solution at the time. I paid out of pocket what little money I had, once I could make payments, and paid $5000 of it myself. then I started school. I used financial aid to pay half of it a couple semesters ago, when I didnt have any other big bills to handle. Yesterday, I paid the last payment. I sent off that big check with a lot of joy and relief. I worked very, very hard to pay off that bill. I worried very much, some time ago, that I would never be able to pay it off. I am so proud of myself that I did the little and big things that made it possible to pay it off. It was a lot of work, a lot of determination, and I hereby celebrate my freedom. I am completely and totally free of debt. Hallelujah. I earned this freedom. I earned the strength it took to get to this place. And I am so proud. A long time ago, I thought the debt would break me. Instead I chose to grow enough to heal it.
I see that they are happy, not because they got luckier than all the rest of us when they found each other, but because they passionately desire and believe in their happiness.- Susan Page Destination, Determination, Deliberation! - Twycross, HP&TH-BP
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby mango » Sat Feb 14, 2009 8:12 am

Congratulations, velvet! What a huge accomplishment. :D
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We guess. We may be wrong, but we take leap after leap in the dark.'

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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby sybilizedliving » Sat Feb 14, 2009 2:18 pm

How exciting. I remember the moment I became totally debt free (September 2008) - it was wonderful. Now I just need to find the motivation to make some money and move in the other direction! Congrats.
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby Unity » Sat Feb 14, 2009 5:14 pm

:D :D :D good news Velvet
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby katchal » Sat Feb 14, 2009 9:26 pm

Hooray!!! Enjoy your freedom!
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby Tituba » Sun Feb 15, 2009 6:03 am

What a wonderful new life you are creating! Congrats.
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby kashtanka » Sun Feb 15, 2009 8:56 am

Velvet, your success is very much deserved. I imagine you are on cloud nine! Congratulations!
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby Izbit » Mon Feb 23, 2009 2:34 pm

Congratulations!! What a great feeling.
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby catiboo » Wed Mar 11, 2009 1:05 pm

Congrats! I am officially jealous :P that's amazing!
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby Wolf Goddess » Thu Mar 12, 2009 8:35 am

Me too. Totaly jealous. :D Congrats. I hope I will be able to say debt free in a year or two.
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby alwen » Sun Mar 29, 2009 7:09 am

Just checking in and saw this - congratulations!
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby metalchick » Sun Mar 29, 2009 7:48 am

Wow. awesome! That's quite an accomplishment: 10 grand is no small hill of beans! Cheers to you!
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby JeannetteLS » Thu Apr 02, 2009 11:34 am

I hope that you are STILL celebrating such an accomplishment. It must have felt as if someone lifted huge shoulder weights from you. May you feel the impact of that kind of accomplishment for months to come.
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby tapit » Sun Apr 12, 2009 1:20 pm

Velvet- This is FABULOUS news- especially in light of the economy these days! Congratulations! You totally deserve a pat on the back and real recognition for your debt-free life. I remember when my debt was finally paid off I felt like I could fly. You go, kiddo!
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Re: I PAID OFF THE STUDENT LOAN = I am FREE of DEBT !!

Postby velvet » Fri Apr 17, 2009 4:02 pm

Thank you all for the recent congratulations. Funnily enough, I think it is easy to forget an accomplishment, even a much desired one like paying off a debt. I knew that beforehand, based on something I read in _How to get what you want with the money you already have_ and so to combat the tendency to forget how much work it took, I did a few specific things. Like posting it here to celebrate the accomplishment and talk about the work it took to do it. my boyfriend took me out to a French restaurant that I had been wanting to go to for years to celebrate - that was very satisfying! I write gratitude lists every so often, and it gives me a chance to recognize how much work it took and how much I appreciate the freedom that work gave to me. I did not do anything too intensely - something I have learned in many areas of my life is that slow and steady wins the race. With debt in particular, advice is always to pay it off as fast as you can, but most people get mired in guilt and feel horrid, which tends to cause even more debt to compound. I made my payments monthly, and automatically, and considered it small steps toward my goal. I focused my energy not on my debt but on my dreams and the good things I wanted to bring into my life and the good things I wanted to do. :)
I see that they are happy, not because they got luckier than all the rest of us when they found each other, but because they passionately desire and believe in their happiness.- Susan Page Destination, Determination, Deliberation! - Twycross, HP&TH-BP
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