Today, I have a great debt payoff story from Val Breit. She paid off $42,000 in student loans in 34 months, while earning $36,000 per year. Below is her story. Enjoy!
I burst into tears.
For the first time, I was selecting my own student loan lender to help pay for my graduate school tuition.
After seeing the chart that explained the $50,000 I projected to borrow for college would actually cost me nearly $100,000 to repay, I cried. Hard.
I knew I was not going to earn very much as a school counselor, so I felt like this was a death sentence. I was going to be paying off this student debt forever.
After this harsh reality slapped me across the face, I got my act together and decided I was going to do whatever I could to avoid paying that horrifying $100,000 amount.
After 6.5 years, I graduated with a 4.0, a master’s degree in school counseling, and over $42,000 in debt. After consolidating, my loan servicer put me on the standard 20-year repayment plan, but I knew there was no way I was going to be paying for my college education that long. [Read more…]