This past month I broke the $30,000 mark for my student loans.  I officially have less than $30K of student loan debt!!!  The past year of hard work is really paying off and I can see the light at the end of the tunnel… well, it’s $30K away, but that seems so much more attainable than the $42K I started with just over a year ago.


  • Debt Nov 2012: $41,868.53
  • Debt Dec 2013: $29,894.98
  • Debt Paid Off:  $11,973.55

I now understand the ‘snowball method’ of paying off loans.  Although I’m doing my own version of it, I see the benefits of it.  Every time I pay off a loan, I just roll that money that was going to that loan into the next one, and thus I’m paying more and more every month.  Take a look at the leap the chart has taken lately…


I even had a coworker ask my advice on paying off her student loans, so I must be doing something right.  I honestly just took the time to setup an excel sheet and this ‘fancy’ chart that just auto updates every month.  So, in reality, I spend less than an hour each month ‘working’ on my student loans.  My payments are on auto pay, so that doesn’t take any time.  I just spend a little time each month deciding how much $ I can mail in to make an extra payment, and send that out.  Then I spend 15 minutes a month logging my payments into my ‘fancy’ excel sheet…


…and another 15 writing this post.  Wah-la.  Done.  Who knew paying off student loans would be so easy!


  • Starting Balance: $31,165.37
  • End Balance: $29,894.98
  • Paid Towards Loans: $1,361.39
  • Interest Paid: $135.19
  • Principle Paid: $1,239.54

This month I put an additional $1,000 towards the next loan I’m working on.  I have been able to throw more money at it because I worked some overtime last month, but this month there hasn’t been much overtime available so I’m thinking next month will be difficult to scrounge up even a couple hundred extra.  I’ll try!


  • SM 1-08 @ 6.55% (February ’13): $0
  • SM 1-07 @ 6.55% (Nov’13): $688
  • SM 1-05 @ 6.55% (Nov’14): $3020
  • SM 1-06 @ 6.55% (Mar ’14): $3810.27<– # is going down!!!
  • SM 1-02 @ 6.55% (Sept ’14): $6500.90
  • SM 1-01 @ 6.55% (2015): $7299.62
  • VSAC C @ 4.77% (2015): $2102.96
  • VSAC A @ 3.17% (2015): $4690.02
  • VSAC B @ 3.17% (2015): $2340.20
  • SM 1-03 @ 2.1% (2015): $1350.48
  • SM 1-04 @ 2.1% (2015): $1800.53

I feel so accomplished being under $30K.  Now I just have to keep chipping away at this next loan.  No idea what my taxes are going to look like, so cross your fingers and maybe in February/March I’ll get a nice refund and be able to pay more towards it, or even pay this next loan off!!!

❤ Meghan

Check out my About Meghan page for more posts on finances and paying off my student loans.


2 thoughts on “I BROKE 30K

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