A student loan payment for AS hit, with $119 going to principal. That means we've paid $951 of debt this month, surpassing my $900 goal.
I got notice of the CC bill today, so I set up a payment for tomorrow that should hit Monday. There's also another AS student loan payment that should go through by Monday. That means we'll probably pay off more than $1,000 this month. Yay! This would be the first month since we started this that we paid less than a thousand to principal, so that will make me very happy if one or both of those payments hit.
Our student loan debt dipped back below $75K again, and it won't go above that number again if I have anything to do with it. The reason it slipped above $75K a couple times is because we accidentally borrowed too much for NT's college tuition, and decided to use the surplus to pay down "bad debt" first, so NT's student loans went higher as a result.
An interesting tidbit that I don't mention very often: Only about $46,000 of the $75,000 education debt listed in my sidebar is actual student-loan debt. The rest is "estimated future debt"; what I predict the rest of NT's education will cost. So maybe some of it, by the time he needs more tuition money, I'll be able to cashflow and not take out student loans, or pay off the student loans soon after we borrow them.
At the time that I started my debt paydown journey, we had over $70K of "bad debt" and we'd already committed to NT getting his bachelor's degree, so I thought we'd definitely be taking out loans for school while we concentrated on paying off the consumer debt. Now that the consumer debt will be gone by the end of the year, the future's a lot brighter. But I still leave the "estimated future debt" on my spreadsheet so if we do have to take out loans, I won't have the depressing feeling of seeing our debt increase again.
Reached May debt goal!
May 27th, 2010 at 08:33 pm
May 27th, 2010 at 08:53 pm 1274993607
May 27th, 2010 at 11:25 pm 1275002723
May 27th, 2010 at 11:45 pm 1275003948
May 28th, 2010 at 05:32 pm 1275067960