21 Month Progress Update

Oy!  It’s been another month since I’ve posted!

Original Debt (December 14, 2012): $102,645

Current Debt (21 months later): $91,956

My debt has decreased by $554 since last month.  An overall reduction of $10,689 in 21 months.  I’m now at 10.41% of my debt payoff goal.

DEBT BREAKDOWN

Federal Student Loans $59,007 $59,225 (up $218 since last month, an overall $3,325 increase over 21 months)

Private Student Loans $33,503 $32,731 (down $772 since last month, an overall decrease of $7,890 in 21 months)

  • StudentLoan#1: $3,140  $3,061 (down $79 since last month, an overall decrease of $4,099 in the past 21 months)
  • StudentLoan#2: $10,550 $10,549 (down $1 since last month, an overall decrease of $641 in 21 months)
  • StudentLoan#3: $17,150 $17,149 (down $1 since last month, an overall decrease of $1,091 in 21 months)
  • StudentLoan#4: $2,663 $1,973 (down $690 since last month, an overall decrease of $2,048 in 21 months)

After mistaking StudentLoan#4 for StudentLoan#1 on multiple occasions, I’ve decided to push #4 up to the first to be paid off because there is only $1,973 left on it and it is my loan with the highest interest rate (9.75).  The reason it was originally lowest on my list is because it is the only private student loan I have without a co-signer.  I want to plow through the remaining balance so I can put more towards my other loans, slowly knock them down, one by one.

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