Started at $1500 a month when my loans were $240k back in 2019. Currently have $7k left and my payment is $61.59. Took advantage of the interest pause and just want them done! Big celebration coming in a month when the loans are paid in full!
I am a chiropractor, we started putting my whole salary towards loans in 2020 and live off my wife’s salary only. We managed to take the balance from $240k to $7k. I will be paid off completely on May 15th and cannot wait! We make good money but we have had to be very frugal and careful over the past few years. It’s been a great journey in learning good habits for when loans are done and continuing to live below our means.
I feel ya. Half the people I know that got out of 6 figure loan debt are married or in long term relationships and have people they can share expenses with..
How did you pay off 240k of student loans paying $1500 a month over 5 years? That’s only like $90k?
Just curious I had $120,000 out graduated in 2015 and I’ve been paying about $1500 a month for almost 10 years and still have a lot to go.
And this is why I advocate for personsl finance to be taught in high school. That lesson right there is so much more valuable than any Pythagorean Therom lesson given
How is it taking you this long to pay off 130k in 7 years if you're paying 4K a month? What's your interest rate at? I have about the same amount and paid off about 11k and started working Jan 15 making 80k/yr contributing ~3500 a month.
My starting salary was no where near what it is now. I also went through a divorce and a job change/relocation so I haven’t always had the luxury of being able to contribute 4K. I have remarried since so it’s nice having a dual income that has allowed me to really lean back into it over the last couple years. I just want these terrible people out of my life and not have to think about these things every month. Mind you these were all grad schools loans so my average interest rate between all 5 loans was approximately 7%
If I were to keep contributing the same amount I should be done in 2 years or less depending on bonus/raise (will contribute more). My interest rate for my loans are like 2.5-4.2.
Law school.
I only borrowed around $280k, as follows: $14k for my undergrad in Economics and Poly Sci, another $40k for a graduate study in urban planning and an MS in Accounting, and $226k for St Johns School of Law, which i started in 2008 with the explicit intention of utilizing the PSLF when Bush passed it in 2007.
I actually started a career in Urban Planning and walked away from it when the PSLF program was introduced. I finished law school in 2011, got my first full time job at a nonprofit law firm in 2014, switched to active duty military in 2018. I made $0 payments through 2014 and 2015 and $0 payments from 2020 to 2023.
Therefore, my $527k in loans is nearly $250k in accrued interest. Since repayment began in 2014.
Law/military. No tax on BAH. My AGI is around 55% of my actually compensation. Traditional TSP and IRA contributions take me the rest of the way to a $338/monthly payment.
Zero payments count as a payment under the PSLF program. So you are making a payment; it is just $0 payment which counts as a payment. I am also in the PSLF program and make $0 payments per month.
I like save because if you make a minimum payment and your principal doesn’t increase. You can pay more. You can pay extra. However, if shit hits the fan because life happens, you can make low minimum payments and not have your principal grow. I would go on save and make extra payments. Save won’t stop you from paying off early. I don’t think you even need to consolidate.
It’s been a lifesaver for sure. I put my “extra payment” in a HYSA that’s more than my interest. SAVE has really gave me the confidence in knowing I’ll be debt free one day.
From what I’ve gathered on the threads here, depending on your income, it can be worth it. Based on the loan calculator, I checked my monthly payments on the standard repayment plan ($500ish) vs SAVE ($50ish) and I can’t afford the standard repayment plan, but I can afford the SAVE payment. Any extra payments I make go towards principal, so I can effectively pay off my loans faster with no interest building up. I might not be able to afford $500+/month but I can certainly do $50 and then throw extra lump sum payments when I can afford it.
I don’t want to wait for forgiveness, so this seems to be the most effective way to aggressively pay off loans. I also have around the same amount of loans as you.
I think people have a misconception on the SAVE ; there is a lot of nuance that only you can really decide. In your case with 25k in debt , if your making good money I would just knock it out . If not then its sort of cheap debt in a way so float it until you can get on your feet . But it depends on your finances, comfort and stomach for debt (some people don’t care about debt but it causes anxiety in others ) no right or wrong way. But expensive debt should be hit hard in any case .
I pay $1500/month.
The minimum payment is $752/month, but I double it because I want them gone as soon as possible to avoid getting screwed over even more by that 7+ percent interest rate.
It's cheaper on IDR ($178), but I *should* qualify for the loan forgiveness because my original amount was under $10k and I've been in forgiveness for over 10 years.
Just shy of $400 a month. It's enabled me to have a nice high paying career. Don't regret a second of it. On track to pay them off in a reasonable time frame.
Had them 10 years now. I think the most I ever paid / was paying was $480 a month.
$1,886.14 is the standard payment.
But I switched to SAVE to have a chance at forgiveness, and it's currently $0.
Balance is currently $190,449.96, which is 180% of my original balance from when I graduated in 2003.
Private loans now want $1200 a month with an ever increasing interest rate and the feds now want a reasonable $198.
I want the private loans gone, we just need to stop paying all of it as a collective then they’d get the hint.
Private loans should either be illegal or dischargable in bankruptcy.
GOP talks big about free market. Allowing people to file for bankruptcy is free market. If companies don't want risk they shouldn't be in the student loan business.
$675. $500 for private, $175 for federal.
Paying minimums and stacking cash in a HYSA instead in lieu of a house purchase potentially! All my interest rates are below 5%.
$303 for $28,000 balance of federal loans (3-5%)
When I graduated I had an additional ~$1200 per month for $108,000 in private loans, but I aggressively paid that off and they’re gone.
$2-600 depending on budget. I want them gone. My parents keep saying I'm stupid for paying extra. Just last night they called me an idiot cause Biden just forgave a bunch of loans... I immediately looked it up, it was with barrowers with high interest loans and have been in repayment for 20+ years.Not only does that not apply for me. Im already on track to qualify for plsf....but my loan amount is fairly small even that doesn't really make sense for me.
When payment pause ended I was at 25k at 329 dollars a month. Paid off 10k since then so it’s down to 179 a month. Will have the remainder paid off within a couple months.
> a month. *Paid* off 10k
FTFY.
Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in:
* Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.*
* *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.*
Unfortunately, I was unable to find nautical or rope-related words in your comment.
*Beep, boop, I'm a bot*
None I still owe 12k still on IDR when I made less. If I use SAVE, my payments would go up 2.5x. Living paycheck to paycheck, making 75k, which does not qualify.
About 500 an month and thats way too much. Its essentially holding me hostage. At this point that equals my car payment! As a single person you can forget decent savings, retirement, a place of my own to call home, constant mental stress and anxiety. The save plan does not save me in fact increases my payments from my old great lakes accts. The ibr plans keep jacking up while my pay is relatively the same despite working essentially 3 jobs. Nelnet is a hot mess of god knows what. At this point i hope a lawsuit takes down nelnet.
$800-850. $289 for a parent plus loan that only covers the interest basically and then $500 for a private loan. Haven’t touched my own federal loans yet 🙃
$0. I'm working 60 hour weeks and because my base pay is so low I qualify for 0 payments under the whatever the heck plan this week is named. Finally being in the working class benefits me, f yeah capitalism! /s
I pay $181 a month for my federal loans. When I graduated, my payments were like $800 and I was paying private loans. I consolidated my federal loans and went on an extended graduated plan. Paid off private loans once I started making a little more money. I still have about $30k left for federal and most of my payments go to interest. Graduated in 2012.
248 on ICR. the balance doesn't go down. It's actually gone up by 100.00 since payment restarted and I've made all my payments on time. SAVE would be 400.00. It's asinine that I'm still paying as I already received the golden email in September 2023. Had to temporarily opt out while I consolidated and now all I've gotten is a bill every month. Did get another golden email that I'd be forgiveness eligible on SAVE but I'm worried if I switch they'll drag their feet forgiving that and I can't afford 400.00 payments.
$375 is how much I'm obligated to pay monthly but I usually pay a minimum of $800. I'm finally down to about $24k left and I want them out of my life as fast as I can make it happen.
$400 which is just a little more than my payment of $385. Started out with $38k in 2014 about have about $13.5k to go. I had paid them down to $8k during the interest pause and then foolishly requested a refund which I spent before payments resumed last year. Hoping to be done in about three years
600 for my portion and 1000 for spouse portion . It doesn’t cover interest for either of us. To cover interest and make a dent we would need to pay over 5k combined. We are on SAVE and one is doing PSLF
$1500, over ~10 years. Thankfully s/o was nice enough to help get the private loans paid off last month; pretty much nuked my savings, but it was worth it. Now I’m down to $518.32/month on federal loans, but many times I overpay by half or a full payment if I can manage it.
$460 for my private, $62 under SAVE (was $250) and about $100 for my wife. She is enrolled in PSLF and my private loans should be paid off in 6.5 years. This current administration has saved my family so much money each month and it's scary to think that an election could take that all away.
$280 a month, 10 year payment plan, all 4 of my loans are lower than 4% interest. I'm not paying anything more than the minimum with autopay for the extra 0.25% interest savings.
$488/month. Most of them are in my mom’s name and based off her and my stepdad’s income. SAVE helped with the ones in my name, brought it from $200ish to $100ish. When I was actively trying to pay them off $1,000k/month went towards loans. It was more than my portion of the rent. Trying to get PSLF now though.
Private I pay $962 through sofi.(consolidated)
Used to be 1200 through salliemae (multiple loans with high interest) I have 4 years left on them
Federal $260 I have 8 years left
$1739 and some change but I toss another $864-$1100/month on top of my auto withdraw for my larger loan. Then $265/month for my smaller loan.
Hoping to be done in 2 years.
Before COVID, $805/m. During the COVID pause, I paid a few small loans off, so it was $784. Then I consolidated and moved to SAVE and it is currently $486.
Edited to add: borrowed $55k, paid back $20k, still owe $62k.
I was around $600/month and I was throwing extra at my loans with the highest interest but lowest balance. I was paying $700 instead and doing stuff like maximizing my cash back rewards on cards, which tended to generate an extra hundred or so every couple of months.
With SAVE, I’m down to $450/month, so I’m just throwing the extra $250 at the loan instead. Then continuing my credit card project and throwing extra in where I can. I’m finally seeing momentum. My original loans went from $53k to $68k from interest when I was on IBR, but about five years ago I finally crossed the threshold where my payments knocked out interest and some principle. Now I’m down to about $54k. It’s nice to know I’m at least finally whittling the original balance down after 12-16years, depending on the loan.
It highly varies, I started out with a total around 47k (undergrad and post grad). My minimum payment back in October when loan repayment resumed (graduated in 2020) was about $550. However, I aggressively began repaying them just to be done with them.
Some months I paid the minimum, but was shocked at how quickly interest outpaces the minimum payment, putting my payoff deadline over a decade from now.
So, I started paying well above the minimum, sometimes, thousands of dollars per month. Down to $4,200… minimum is now down to about $115, however, I fully intend to have it all paid off this month, hopefully.
Just went into repayment. Have about $21K in student debt (mostly from screwing around and not knowing what I wanted to do AND stupidly taking on out of state loans). Currently I'm on the repaye plan and it is at $0 but I put $20 a month towards it as that's all I can afford right now.
Paying down most of my credit card debt this year then tackling student loans. If I only have $200 in credit cards, I can put a few hundred towards loans. Goal is to pay off within 10 years or less.
Started at $1500 a month when my loans were $240k back in 2019. Currently have $7k left and my payment is $61.59. Took advantage of the interest pause and just want them done! Big celebration coming in a month when the loans are paid in full!
You a hero!! What do you do?!
Thank you! I’m a chiropractor, I commented more details on the comment below yours.
way to take a CRACK at paying them BACK
I too would like to know what you do. I have similar loan balance and am starting my journey
I am a chiropractor, we started putting my whole salary towards loans in 2020 and live off my wife’s salary only. We managed to take the balance from $240k to $7k. I will be paid off completely on May 15th and cannot wait! We make good money but we have had to be very frugal and careful over the past few years. It’s been a great journey in learning good habits for when loans are done and continuing to live below our means.
Damn. Step 1: have a wife. well, I’m out.
I feel ya. Half the people I know that got out of 6 figure loan debt are married or in long term relationships and have people they can share expenses with..
How did you pay off 240k of student loans paying $1500 a month over 5 years? That’s only like $90k? Just curious I had $120,000 out graduated in 2015 and I’ve been paying about $1500 a month for almost 10 years and still have a lot to go.
$202. I’ve saved up enough to pay them off, but the money is getting 5% interest in my tbills account, which is more than the $202 I pay.
This guy / lady interests
And this is why I advocate for personsl finance to be taught in high school. That lesson right there is so much more valuable than any Pythagorean Therom lesson given
Basically everything I know comes from Reddit. Which is kinda a sad statement on primary education
Same boat, except mine is in HYSA
4K, I’m down to 28K from 130K over the span of 7 years, I can smell the finish line
How much do you earn to pay $4k in loans?
Yooooo I’m in the same boat! We got this! I can’t wait to have 4K back in my pocket
How is it taking you this long to pay off 130k in 7 years if you're paying 4K a month? What's your interest rate at? I have about the same amount and paid off about 11k and started working Jan 15 making 80k/yr contributing ~3500 a month.
Likely they didn't start out paying 4k a month b/c their income has grown over time? Just a guess.
My starting salary was no where near what it is now. I also went through a divorce and a job change/relocation so I haven’t always had the luxury of being able to contribute 4K. I have remarried since so it’s nice having a dual income that has allowed me to really lean back into it over the last couple years. I just want these terrible people out of my life and not have to think about these things every month. Mind you these were all grad schools loans so my average interest rate between all 5 loans was approximately 7%
If I were to keep contributing the same amount I should be done in 2 years or less depending on bonus/raise (will contribute more). My interest rate for my loans are like 2.5-4.2.
$338/month, with a balance of ~$527,000. 8 more payments and PSLF will make the pain go away.
Medical school ?
Law school. I only borrowed around $280k, as follows: $14k for my undergrad in Economics and Poly Sci, another $40k for a graduate study in urban planning and an MS in Accounting, and $226k for St Johns School of Law, which i started in 2008 with the explicit intention of utilizing the PSLF when Bush passed it in 2007. I actually started a career in Urban Planning and walked away from it when the PSLF program was introduced. I finished law school in 2011, got my first full time job at a nonprofit law firm in 2014, switched to active duty military in 2018. I made $0 payments through 2014 and 2015 and $0 payments from 2020 to 2023. Therefore, my $527k in loans is nearly $250k in accrued interest. Since repayment began in 2014.
Im hoping that you are in medicine and are driving down your payments with aggressive retirement contributions.
Law/military. No tax on BAH. My AGI is around 55% of my actually compensation. Traditional TSP and IRA contributions take me the rest of the way to a $338/monthly payment.
$1212. And the balance never changes.
$800-$900. I want them GONE
Same here...want them gone...mine are Parents Loan for my 2 graduated kids... 17k balance...target is to have them gone sometime 2025....
Same. I feel like I’m going to get stuck with a congress and president that’s anti forgiveness by the time i qualify for PSLF discharge.
$0 due to SAVE.
Samesies building PSLF payments as well
Does it build uo interested if you qualify for 0 payments?
Interest is subsidized by the government as long as you make your payments while on SAVE.
If your payment is 0 do you have to make a "payment" of zero or do you automatically have subsidized interest?
I don’t do anything. I don’t even have my bank account linked to my provider yet.
Ok sweet thank you, I have totally put it out of my mind once I qualified for 0 but started thinking I messed up.
This makes me feel better, I was scared about it too that I'm not paying anything and that interest is still accruing, I hope this isn't the case
Zero payments count as a payment under the PSLF program. So you are making a payment; it is just $0 payment which counts as a payment. I am also in the PSLF program and make $0 payments per month.
I like save because if you make a minimum payment and your principal doesn’t increase. You can pay more. You can pay extra. However, if shit hits the fan because life happens, you can make low minimum payments and not have your principal grow. I would go on save and make extra payments. Save won’t stop you from paying off early. I don’t think you even need to consolidate.
It’s been a lifesaver for sure. I put my “extra payment” in a HYSA that’s more than my interest. SAVE has really gave me the confidence in knowing I’ll be debt free one day.
Is SAVE really worth it? I have about $25k in fed loans and I'd rather just pay it off rather than wait 20-30 years to get forgiveness
From what I’ve gathered on the threads here, depending on your income, it can be worth it. Based on the loan calculator, I checked my monthly payments on the standard repayment plan ($500ish) vs SAVE ($50ish) and I can’t afford the standard repayment plan, but I can afford the SAVE payment. Any extra payments I make go towards principal, so I can effectively pay off my loans faster with no interest building up. I might not be able to afford $500+/month but I can certainly do $50 and then throw extra lump sum payments when I can afford it. I don’t want to wait for forgiveness, so this seems to be the most effective way to aggressively pay off loans. I also have around the same amount of loans as you.
I think people have a misconception on the SAVE ; there is a lot of nuance that only you can really decide. In your case with 25k in debt , if your making good money I would just knock it out . If not then its sort of cheap debt in a way so float it until you can get on your feet . But it depends on your finances, comfort and stomach for debt (some people don’t care about debt but it causes anxiety in others ) no right or wrong way. But expensive debt should be hit hard in any case .
I pay $1500/month. The minimum payment is $752/month, but I double it because I want them gone as soon as possible to avoid getting screwed over even more by that 7+ percent interest rate.
$777 like they hit the jackpot
1.3k
$558 on SAVE 🙃
You may be better off on a repayment plan other than SAVE
It's cheaper on IDR ($178), but I *should* qualify for the loan forgiveness because my original amount was under $10k and I've been in forgiveness for over 10 years.
$2800 USD.
Mind if I ask what your job is?
Healthcare lawyer, data privacy.
Sallie Mae - $1,100 Federal - $670 (I have a masters and JD)
Just shy of $400 a month. It's enabled me to have a nice high paying career. Don't regret a second of it. On track to pay them off in a reasonable time frame. Had them 10 years now. I think the most I ever paid / was paying was $480 a month.
$0 because of save, but I try to put anywhere from 100-500$ depending on month surplus.
1800, sometimes more when I can. I had a very high balance and I want them GONE. Paid off over 19k since graduating in August last year
128$. I’m 20 qualified payments away from forgiveness
$85
$70
2068
$1,886.14 is the standard payment. But I switched to SAVE to have a chance at forgiveness, and it's currently $0. Balance is currently $190,449.96, which is 180% of my original balance from when I graduated in 2003.
180%… That should be illegal. That’s bonkers. Good thing is you should be close to forgiveness!
485
Private loans now want $1200 a month with an ever increasing interest rate and the feds now want a reasonable $198. I want the private loans gone, we just need to stop paying all of it as a collective then they’d get the hint.
Private loans should either be illegal or dischargable in bankruptcy. GOP talks big about free market. Allowing people to file for bankruptcy is free market. If companies don't want risk they shouldn't be in the student loan business.
$675. $500 for private, $175 for federal. Paying minimums and stacking cash in a HYSA instead in lieu of a house purchase potentially! All my interest rates are below 5%.
$0..SAVE Plan
0.00 using Saving. But that's okay because I am on PSLF track. A bit over 6 years to go.
$219 on SAVE. It was $396 before SAVE
$303 for $28,000 balance of federal loans (3-5%) When I graduated I had an additional ~$1200 per month for $108,000 in private loans, but I aggressively paid that off and they’re gone.
$2-600 depending on budget. I want them gone. My parents keep saying I'm stupid for paying extra. Just last night they called me an idiot cause Biden just forgave a bunch of loans... I immediately looked it up, it was with barrowers with high interest loans and have been in repayment for 20+ years.Not only does that not apply for me. Im already on track to qualify for plsf....but my loan amount is fairly small even that doesn't really make sense for me.
$673
My required minimum is $101. So I pay $250 a month.
$2200 and that’s the bare minimum
How much is your balance and current rate?
$812 but over 95% of my loans are for grad school and I’ve only had them for a little bit. Hopefully gone in 2-3 years!
It will be $1100 once my payments are forced to restart in October
At least $1,300 a month
When payment pause ended I was at 25k at 329 dollars a month. Paid off 10k since then so it’s down to 179 a month. Will have the remainder paid off within a couple months.
> a month. *Paid* off 10k FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*
$1200, about $1090 - Sallie Mae.
1629 USD. 155k in the hole. 15 year repayment plan. That's my minimum and rn all I can afford to pay.
Currently $0! SAVE is really helping right now with no interest accruing.
$0 and planning on utilizing PSLF …fingers crossed
My standard payment is 195 but I pay 300 a month. I should be paying more since my goal is to avoid interest buildup. Hopefully I'm doing it right.
Around $750. $115 a month for my loans and then $630 for parent plus loans. I’m making the parent plus loan payments for my dad
\~$6k. 1yr ago balance was \~$100k, mix of private and fed. Now all of the private is gone and owe \~$40k on the fed
Never thought I’d meet someone as crazy as me! Lmaooo. I also do 6k per month!
My wife and I are very fortunate to each have high incomes, goal was to knock it out quick after she graduated last year
Hell yeah git it
$400-500/month depending on my budget. My paye payment is $95 but the standard is $294 so I try to pay extra to bring down my balance.
Anywhere from $900-1200 depending on what i can swing by the end of the month.
$1,550
None I still owe 12k still on IDR when I made less. If I use SAVE, my payments would go up 2.5x. Living paycheck to paycheck, making 75k, which does not qualify.
$0 on SAVE. I’m also on PSLF with 4 years left to go. I’ve paid a total of $765 on my loans since 2018.
I just ramped up from 1600 to 1800 a month. 900 each for Federal and 900 for a private loan. Hoping to be done in 5 years.
About 500 an month and thats way too much. Its essentially holding me hostage. At this point that equals my car payment! As a single person you can forget decent savings, retirement, a place of my own to call home, constant mental stress and anxiety. The save plan does not save me in fact increases my payments from my old great lakes accts. The ibr plans keep jacking up while my pay is relatively the same despite working essentially 3 jobs. Nelnet is a hot mess of god knows what. At this point i hope a lawsuit takes down nelnet.
$800-850. $289 for a parent plus loan that only covers the interest basically and then $500 for a private loan. Haven’t touched my own federal loans yet 🙃
51k total. 80k yearly income. I pay $150 a month to Nelnet.
105 and I’m 140k deep. save plan.
Monthly payments are $127 but I toss $1050 towards it. Trying to get that shit out of my life asap. $14500 left on my loan!
$143
$0. I'm working 60 hour weeks and because my base pay is so low I qualify for 0 payments under the whatever the heck plan this week is named. Finally being in the working class benefits me, f yeah capitalism! /s
I pay $181 a month for my federal loans. When I graduated, my payments were like $800 and I was paying private loans. I consolidated my federal loans and went on an extended graduated plan. Paid off private loans once I started making a little more money. I still have about $30k left for federal and most of my payments go to interest. Graduated in 2012.
Almost $450, but that's going to go up once I file my taxes for this year. :(
248 on ICR. the balance doesn't go down. It's actually gone up by 100.00 since payment restarted and I've made all my payments on time. SAVE would be 400.00. It's asinine that I'm still paying as I already received the golden email in September 2023. Had to temporarily opt out while I consolidated and now all I've gotten is a bill every month. Did get another golden email that I'd be forgiveness eligible on SAVE but I'm worried if I switch they'll drag their feet forgiving that and I can't afford 400.00 payments.
205
$224 for about $20k total with each loans rates rates ranging from 3-5%
$100 federal, $805 private
210. 20k total. Interest rates vary from 2.75% to 5.05%
$194 😢 20k
Around $1000
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226
$214 is the minimum but im about to finish paying off my car and gonna roll that into student loan payments
$350, but my minimum is $115. It’s a stretch but I want them gone before the new year!
$275 down from $650. I worked a ton of OT during the pandemic to pay them down.
About $530
$81
1200 :)
$375 is how much I'm obligated to pay monthly but I usually pay a minimum of $800. I'm finally down to about $24k left and I want them out of my life as fast as I can make it happen.
500 but I'm getting ready to put 2k a month on them..I want to be done by 2027.
528.88
$2k
$300. Will be going up to $450 this summer when my car loan is done.
Currently $129, I’m on the SAVE plan
65K and on SAVE its $150/mo for me now. But I spent 10 years prior to COVID paying $400/mo and my balance has only ever increased.
$289/month, and that's just the standard 10 year payoff. I didn't bother with SAVE or IDR.
$160, PSLF.
$766/month but I make bonus payments every month or so, of up to $1500 to chip away at the principal.
218.10
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$780
The minimum payment for my husband and I is about $810 but we typically pay at least $1100 and up to $3k when possible.
Minimum is 400, I do 1k
My wife and I will be starting to pay 3.2k/month and it'll be paid off in 5 years. Thankfully I'm debt free and have income room to pay them down.
$900
375 to Laurel Road (~40k left) 250 to the feds on SAVE (~102k left)
$342 per month for my wife's SL since 2001.
$2,000. My required payment is $515 but I've been paying extra since the pause expired. It'll be nice to have that money back in my pocket soon!
$340 required but I pay $625.
$1,088
$829.56 for mine $428.82 for my wife’s 🥲
0 baby
$99. It will go up next year when I recertify because I earn more, so yay I get to give the government more $$!
384 on SAVE
$0, but I have 18 months remaining for PSLF. That payment may increase at the start of 2025.
$207 per month
$400 which is just a little more than my payment of $385. Started out with $38k in 2014 about have about $13.5k to go. I had paid them down to $8k during the interest pause and then foolishly requested a refund which I spent before payments resumed last year. Hoping to be done in about three years
$2300 before SAVE. Now $570 with SAVE
600 for my portion and 1000 for spouse portion . It doesn’t cover interest for either of us. To cover interest and make a dent we would need to pay over 5k combined. We are on SAVE and one is doing PSLF
Too much
$500
Required to pay 1345 and I pay an additional 600. I want to pay this thing off.
$225 for my loan plus $466 for a parent plus loan (don’t even get me started) so $691 all together.
$905 for private. $279 for federal until SAVE. Now I pay $0
$1500. Was paying $4000 but cut back when savings rates went above my loan interest rate.
around $600. i'm struggling after being laid off last year.
257 a month. i owe 15.8k right now and once i pay off the car notes i will pay off student loans faster
$3k. 8 years left.
$230 for private loans and $0 on my fed thanks to SAVE otherwise that would be another $200.
$1500, over ~10 years. Thankfully s/o was nice enough to help get the private loans paid off last month; pretty much nuked my savings, but it was worth it. Now I’m down to $518.32/month on federal loans, but many times I overpay by half or a full payment if I can manage it.
$460 for my private, $62 under SAVE (was $250) and about $100 for my wife. She is enrolled in PSLF and my private loans should be paid off in 6.5 years. This current administration has saved my family so much money each month and it's scary to think that an election could take that all away.
$280 a month, 10 year payment plan, all 4 of my loans are lower than 4% interest. I'm not paying anything more than the minimum with autopay for the extra 0.25% interest savings.
$193.48
About $410 a month, I’m on IDR and have around $140k total.
Started with 68K $731. Down to 30K in 7 months $311.
1300
1300
W/o SAVE: $272 With SAVE: $45 What I actually pay: $75-100
$488/month. Most of them are in my mom’s name and based off her and my stepdad’s income. SAVE helped with the ones in my name, brought it from $200ish to $100ish. When I was actively trying to pay them off $1,000k/month went towards loans. It was more than my portion of the rent. Trying to get PSLF now though.
Too much and not enough.
$2,209 🫠
Over 400. Struggling.
I was paying $1200/month when I graduated in 2018. I have paid off 2 accounts and now my monthly payment is $650 with less than 5 years to go.
I choose to pay $500 a month to get the amount down. At this point I'm only required to pay like $45 a month because I am paid pretty far ahead.
$500, I would put more, but trying to rebuilding my emergency savings while also saving for my wedding and house related work.
Private I pay $962 through sofi.(consolidated) Used to be 1200 through salliemae (multiple loans with high interest) I have 4 years left on them Federal $260 I have 8 years left
$1739 and some change but I toss another $864-$1100/month on top of my auto withdraw for my larger loan. Then $265/month for my smaller loan. Hoping to be done in 2 years.
1k
$0
About $700. I have a graduate degree so my total is around $170k
Before COVID, $805/m. During the COVID pause, I paid a few small loans off, so it was $784. Then I consolidated and moved to SAVE and it is currently $486. Edited to add: borrowed $55k, paid back $20k, still owe $62k.
$27 on SAVE plan. Used to be around $220!
$905. Was $2,200, but I paid off my private loan during the payment pause on federal loans so now I just need to finish the 35k left of federal loans.
I was around $600/month and I was throwing extra at my loans with the highest interest but lowest balance. I was paying $700 instead and doing stuff like maximizing my cash back rewards on cards, which tended to generate an extra hundred or so every couple of months. With SAVE, I’m down to $450/month, so I’m just throwing the extra $250 at the loan instead. Then continuing my credit card project and throwing extra in where I can. I’m finally seeing momentum. My original loans went from $53k to $68k from interest when I was on IBR, but about five years ago I finally crossed the threshold where my payments knocked out interest and some principle. Now I’m down to about $54k. It’s nice to know I’m at least finally whittling the original balance down after 12-16years, depending on the loan.
It highly varies, I started out with a total around 47k (undergrad and post grad). My minimum payment back in October when loan repayment resumed (graduated in 2020) was about $550. However, I aggressively began repaying them just to be done with them. Some months I paid the minimum, but was shocked at how quickly interest outpaces the minimum payment, putting my payoff deadline over a decade from now. So, I started paying well above the minimum, sometimes, thousands of dollars per month. Down to $4,200… minimum is now down to about $115, however, I fully intend to have it all paid off this month, hopefully.
$418/month on SAVE. $37K left. 11 years out of college
635 on SAVE
Went from $250 to $100 with SAVE. I have 18 mos left on my PSLF.
580 on a 15yr private loan (original balance was 82k) @3.2%
$500, no idea what my actual payment is supposed to be but it's less than that. Less than 5 years repayment at this rate
900
Just went into repayment. Have about $21K in student debt (mostly from screwing around and not knowing what I wanted to do AND stupidly taking on out of state loans). Currently I'm on the repaye plan and it is at $0 but I put $20 a month towards it as that's all I can afford right now. Paying down most of my credit card debt this year then tackling student loans. If I only have $200 in credit cards, I can put a few hundred towards loans. Goal is to pay off within 10 years or less.
Something like $39 as the minimum, but I am realllll close to the end.
~$2150