Here is a post by my staff writer Jordann. She submitted this post before I announced that my student loans are gone, so hopefully that will clear up any confusion below 🙂
Student loan debt is something pretty much everyone reading this blog can relate to. Most people who go to University will graduate with some form of debt, whether it's federal loans (like mine), bank loans, or a personal loan.
This makes for a sort of bitter-sweet graduation day, where you're excited to take on new opportunities and possibilities, but nervous about finally having to start paying all of those loans back.
The period after graduation from school, that used to be filled with starting new jobs, buying homes and getting married, is now what I like to refer to as the “Paying back student debt gap years”.
There's typically no home buying, and no family starting. How can there be? When student loan debt is weighing you down? Most people don't try and pay their loans off particularly quickly, instead they focus on making the minimum payments and figuring out their life. Not everyone though. Some people take those gap years and run with them.
Michelle is about to pay off her student loans once and for all, go Michelle! She finished up her MBA with a fairly significant student loan debt and has done an admirable job at attacking it.
I'm in the same boat. I graduated from university with the average amount of student loans, $26,720. I was nervous about paying them back, but once I got into a good groove, I managed to get rid of them in 17 months. Since we're both student debt free now, I'd like to go through some of the great perks of not having student loan debt.