You may remember that I posted my first financial confession here last month. I figure it is time for another dose of reality. Okay, here goes.....................my current student loan balance is $95,357.06! This is the balance AFTER I have been making payments on time every month for almost 2 years. The original balance was about $100,000.00. I have 2 degrees, a bachelors degree and one I won't discuss here. This is an astronomical amount of DEBT!
As an incentive to take a job with the company I work for, my student loans were to be paid by the company for approximately 2 years. Guess what? On August 7, 2008, it will be my second anniversary with this company. That now means I have to find an extra $500.00 a month to pay student loans. The good thing is that I have been making payments in addition to the payments that my job makes, so I am several months ahead on payments. That should buy me some time to figure this out.
I do not regret taking out this amount in student loans whatsoever. I was a single parent when I was going through school, and student loans helped Skater Boy and I to survive, so I am grateful. Mr. HM has student loans too, but they are not nearly as much as my loans. I feel better to have gotten this confession out in the open. I do have a potential plan of action to tackle the debt. I will discuss it another time. I have to research that option a little more.
My Life, My Love, My Finance
Love ya,
Ms. High Maintenance
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1 comments:
You are doing well with your confessions!! Just keep getting them out there, and once you face them it will be easier to deal with. Suze O always says Student loan debt is "good debt" It helped finance your future, You can do it girl!! Just imagine making that last payment of that amount!!
Mi$$
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