I have talked about this in an earlier post. But I wanted to recap the situation since I was away for a long time. Mike and I don’t have any debt from our under grad degree. But when I went to grad school, I took a student loan to help pay tuition. The balance left on my student loan is TADA
My goal is to pay it by Dec 2011. I know it is an aggressive goal and it is safe to say that we will not be diverting any money to savings till this is done. We want to throw every extra penny we have at this debt until it is gone forever. Paying off my student loans was one of my goals for 2011 and it will mean so much to me when I can achieve it.
Apart from student loans, my parents lent $10000 to help me oout during grad school. While this is interest free, I want to be done with this as soon as I can, just because it is embarrassing. I have talked to them about it and we have set a tentative schedule for repayment. I will be paying back $5000 in March 2012 and another $5000 in June 2012, barring anything unexpected. I think this is a comfortable time-line and I really hope we are able to pay off my parents by then.
After all this is paid off, I will turn my attention to paying off car loans. So excited!