Chipping Away Student Loan Debt



My husband and I after we received our diplomas - 2006

Me and my parents on grad day - 2006

Chipping clearly is the correct term here. As a stay-at-home momma, most days we are scraping by. Regardless of my current situation, I have decided to get a little crazy with paying off my massive student loan debt. It has been haunting me for way too long.

I recently got inspired by rereading a book called The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey. This book is near and dear to my heart, since it is the book that created our personal radical move toward eliminating debt to enable me to become a stay-at-home mom. However, the ominous emails from Sallie Mae come every month and we pay it on time and then forget about it until the next month rolls around. Sound familiar?

Well...this month I happened to check on things beyond the monthly due date and see how we must have caused a dent in the school debt by now. I mean, it's been almost 7 years since I've graduated! Much to my surprise, it was as if the debt grew. Which it did. Thanks to interest. It felt like a "one step forward, two steps back" scenario.

A very rude awakening occurred when I saw the estimated date of when the debt would be paid off. I'm pretty sure I almost fainted. Lets just say, for a few years we will be paying for my son (who's currently 2 1/2 years old) AND MY COLLEGE at the same time!!!

Unless, I do something about it.