Payment 1 of 120 has been debited.
What would you do with an extra $704 per month?
Standard repayment on my wife and my combined student loan debt of $86k is about $926 per month. Thanks to #IBR and #PAYE our total monthly student loan debt payment is $221.40 for the next 12 months, and then adjusted annually based on adjusted gross income, and loan balances. Thanks to these programs, we came out $704 ahead for June. Being able to use $704 per month toward living expenses, other debt, and savings instead of student loan debt is great support for why programs like #IBR and #PAYE benefit the middle class in the pursuit of more education.
Public Service Forgiveness is a great reason to go back to school to advance your career in government, education, and non-profit careers, but it is a long forgiveness game. I'll keep a running tally for the next 120 months until my loans are forgiven.
What are your student loan repayment success or horror stories?
Coming soon, strategies to deal with massive private loans, and other money saving tips.
Payment 1 - $221.40 -- Savings $704
