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*Official student loan pay off thread*

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  • Paid off the last $5000 of $200,000 today.

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    • Paid off the last $5000 of $200,000 today.
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      Congratulations! Make sure you celebrate such a great accomplishment!

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      • Paid off the last $5000 of $200,000 today.
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        Great job, what was the time frame?

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        • Thank you!

           

          2008-June 2017: $50k

          June 2017-present: $150k

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          • Thank you!

             

            2008-June 2017: $50k

            June 2017-present: $150k
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            Amazing what happens with some focus eh?
            Helping those who wear the white coat get a fair shake on Wall Street since 2011

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            • Finally did it.

              Graduated fellowship 2 years ago with 110k in student loans.  I refinanced in fellowship to a variable rate from 6.8 to like 4 or something.  My contract included  1250 a month to student loans for 2 years, provided there was still a student loan balance.  Well, their final payment went through this month so i finished the job and sent them 11k.

              done and done

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              • Finally did it.

                Graduated fellowship 2 years ago with 110k in student loans.  I refinanced in fellowship to a variable rate from 6.8 to like 4 or something.  My contract included  1250 a month to student loans for 2 years, provided there was still a student loan balance.  Well, their final payment went through this month so i finished the job and sent them 11k.

                done and done
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                Its nice when a plan comes together and is carried out to completion, congrats!

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                • This is my favorite thread.  Great work to all.  Keep the success stories coming!

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                  • Strong work! Can't wait to be in your position in 6 months!

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                    • @handfellow: job well done . I’m looking forward to adding my name to this list in a year or so

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                      • ...will this help my credit score by keeping the average age of open accounts longer, or should I just pay that last dollar on each and let the 12-16 year-old accounts close?  BTW those rates were literally 1.9% a year or so ago, which is the last time I logged into Navient.

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                        •  

                          …will this help my credit score by keeping the average age of open accounts longer, or should I just pay that last dollar on each and let the 12-16 year-old accounts close?  BTW those rates were literally 1.9% a year or so ago, which is the last time I logged into Navient.
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                          I don't think my credit score changed at all when I finished off my student loans. Not as long of a history. Are you planning to use your credit score for something?

                          Just pay them off.

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                          • …will this help my credit score by keeping the average age of open accounts longer, or should I just pay that last dollar on each and let the 12-16 year-old accounts close?  BTW those rates were literally 1.9% a year or so ago, which is the last time I logged into Navient.
                            Click to expand...


                            I don't know if the duration of an installment plan has any affect on your credit score or not. Either way, not enough to make a big difference.

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                            • Yeah, I think installment debt might be excepted from the "age of accounts" calculation.  At any rate, I owe $7.  I'll just skip my next lunch and pay it.  I just thought it'd be a funny screenshot tbh.

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                              • Finished Med School in 2013 with ~$200k in student loans

                                Finished Fellowship June 2018

                                Started Attending Job August 2018

                                TODAY IS THE DAY. Payments submitted just waiting for them to officially clear. No debt except the mortgage. It feels good. Could not have done it without my wife (pharmacist)!

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