Six. Freakin’. Figures! [$130,782]

Can I just say that I HATE my student loan debt!? It’s just so freakin’ much!!! Six figure student loan debt is just beyond ridiculous right? First off, six figure debt is a crazy amount to contend with.

Second, it is also a really embarrassing sum of money to owe for something other than a home. If you have six figure student loan debt then you know exactly what I mean.

Anyhow, it is my burden to carry bury.  No one forced me to borrow the money and the loans ultimately made it possible for me to secure a job that I love which also happens to come with a six figure income.

So, while I wouldn’t go as far as saying borrowing the money was worth it, I would say that I am grateful that my past relationship with debt has led me to where I am today. Now however, it is time to break up with the debt!

Repaying My Debt

I am hoping to be able to pay this entire balance off completely in the next four years (honestly I believe I will pay it off a lot faster if I am what Dave Ramsey calls “gazelle intense“).

In the past, I seriously considered making the minimum payments for 10 years and taking the public service loan forgiveness deal. Public service loan forgiveness is a government program that allows public servants to have their loans dismissed after making 120 monthly payments. I am an educator so I qualify.

But, when I think about a ten year repayment sentence I say to myself…TEN YEARS…that’s an entire decade…I’m nearly over the hill as is…ain’t nobody got time for that!

Next, I considered devoting every free moment of my time to learning how to become a world-class hacker and then deleting all of my student loan debt records and helping others do the same but you guessed it…I really don’t have time for that! Plus I have a strong aversion to prison.

Why I’m Paying Back

I’m pretty sure I borrowed more money than I needed but I definitely would not have been able to complete my education without taking out some loans so, I do appreciate the fact that the loans were an option for me to choose (even though I failed to choose wisely at times).

With that being said I can honestly say I don’t have any regrets about my loans or anything else that has happened in my life because I believe in the quote from Deepak Chopra; “this moment is as it should be”.  Nothing is a mistake.

There are lots of other young people out there who want and need the same opportunities that I was afforded. If I did not pay back my loans I would feel like I was cheating someone else out of an opportunity.

Truthfully, that is the main reason why I feel like I NEED to repay my debt as quickly as possible (Read: I am not encouraging others to take out student loans. Avoid them at all costs if you can!).

What My Loans Got Me

In case you are curious, my six figure student loan debt afforded me the following super, cool sheets of paper:

  • a bachelors in business and behavioral science,
  • a masters in education,
  • a doctorate in education,
  • a teaching credential,
  • an administrative services credential,
  • and two real estate classes! Yay me!!!

Breakdown Of My Student Loan Debt

Student Loan 1: $10,059.88 @ 5.875%

Student Loan 2: $50,145.71 @ 5.875%

Student Loan 3: $70,576.41 @ 5.875%

Total Student Loan Debt: $130,782.00

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