I’m back with another student debt progress report. As I mentioned in a previous article, back in December, I had reached the midpoint in my student debt balance. In other words, I’d paid half of what I owe in student loans by December, bringing my student debt down to $16,743. That’s after only five months of being employed and making regular monthly payments. And note that what I owed in student loans prior to that was around $35,000. I’d say I’ve made some great progress towards my goal of paying it off in a year. But why am I paying it off aggressively? Well the reasons have already been laid out in the previous article, so please check that out for more details. However, the short version is that I think having any type of debt hinders your life. So, to me, it’s a great idea to put the majority of your extra money (money not used for monthly expenses on bills, food, and transportation) towards paying off your debt.
