Pending a surprise twist ending, that means I’ll have this one paid by the year’s end.
I started this year with 5 federal loans (out of originally 8. Federal at least). And I will end with just 3 left!
It’s been a hell of a year, and I have such conflicting thoughts, because I’m only at this point *because* of covid. Like… +200k Americans dead, but hey! I paid off two loans!
And literally, only because of covid. Back in April:
1. Congress set interest down to 0% (and then extends it to dec)
2. Surprise stimulus check (begrudgingly all given right back to the government)
3. Navient gets caught with its pants down and Income Based approval is taken out of their hands and you can apply for it online with the government directly
So I was able to knock the highest interest loan out with the stimulus check. My minimum payment went down. I can pay the same, but now I can throw more of it to the 1-06 which goes back to 6.8% interest in January - except *fingers crossed* it will have been completely paid off before then!!!!!
Y'all, I’ve been giving more than half my income to these loans for a decade now. And this year, I finally, FINALLY have been granted an IBR plan. My monthly payment is now a quarter of what it was. I can afford to put money into a savings account for emergencies. I have enough pocket change to be making these books again!! ((Incase y'all where wondering why the cross-stitch suddenly switched to books, that was a part of it. But cross stitch is coming back, I just need to find the right canvas for my next project XD))
In the other hand, what a horrible fucking year this has been. I’ve been extremely lucky in that I and my family have not gotten sick despite I and my wife are considered “essential workers” and have been stressed and overworked (and if you try and take a sick day for any reason it’s an automatic 2 week quarantine from work even if sick is you have horrible menstrual cramps, or you desperately need a mental health day). But I also am looking at the infection rates skyrocket here locally once again, and any joy from the above is just soured.
So, yay for getting another loan knocked out here in the next couple months, and please. Y'all. Stay safe.