Tuesday, November 25, 2008

*flushes money away*

Student Loan Payment Day is always bittersweet.

it's happy in that i know i'm chipping away at the mountain of debt i incurred as a result of seven years of postsecondary education, and it's nice to see the balances of my loans go down little by little as i log in to pay them each month.

it's depressing just how much of my money goes toward the loans. yet another one of my law school loans went into repayment for december, and the last one goes into repayment in january. i added it up, and just minimum payments on my loans equal twice my rent.

i know i'm not in nearly as much of a position to complain as many people. despite the fact that the economy sucks, i am employed, and i can pay the loans down with no problem. still, though, it's an expensive burden to have hanging over my head for the next several years. i think about it pretty frequently, and i dread the one day a month where i have to go into my bank account and part with most of the money in my checking account.

i can't wait to have these damned things paid off.

1 comment:

Eric Allix Rogers said...

Twice your rent?! My minimums add up to only half my rent, and that already smarts.

I don't mind paying them, though. But the worst part is watching how little of each payment at this point goes to principal. It's almost all going to interest, and that's galling. But it also motivates me to overpay, which is a good thing.