The last time that I checked, I owed around $18,000. When I transitioned from a full-time to part-time student, and started working full-time, I had $25,000 of school loans taken out. So, I’ve paid off $8,000 of student loans over the last four years. I wish it were more, but I’m in no hurry to pay them off. I know that I could save a good chunk if I just payed them all off now, and thinking about it, it would feel pretty good.
But … I’m saving as much as I can and am investing it pretty aggressively. In the long-term, I’m hoping that with compound interest and time, that the money saved now, that could have been put towards paying off the school loans, provides more of a return than the interest saved by paying them off now. But, nothing is guaranteed. I may lose money, or I may save a little. We shall see.
I’m definitely looking forward to finally paying the loans off; it’s definitely a weight on my shoulders. The weight is worth the pain, though; I would not be where I am today without the bachelors degree in Probability and Statistics from CSU Fullerton.