Now that things have settled down a bit more and I have more time on my hand, I am definitely planning to update more. I’ve been keeping up to date with my student debt statement. I wrote in my previous post that I had some good news to share.

I should have known better no good news comes without a setback. So I have one good and one bad news. The good news is that as you can see, I’ve finally finished paying off my last Grad Plus Loan! Yay! So that’s quite exciting and I’ll talk more about that.

On the bad side, my interests have finally capitalized. This debt statement is quite interesting because I completed it the day after I received the email that my accrued interest had just become capitalized. So basically this really shows the interest accrued after only one day which really gives a nice visual of how much interest I am racking up day to day. So without further ado, I present my October Debt Statement.

I received another loan of $14,000 from the parents in October and put down a payment of $3,492.90 of my own to finally clear away the last of my grad plus loan! 🙂 Yes it sucks that I am almost absolutely broke now, but it helps that I live at home and have the safety net of my parents to fall back on so I never have to worry about not being able to pay rent or pay for food.




My payments are going to be officially due in December so I do have one more month of grace period, but I plan to still be making payments. I am still looking into my options in terms of refinancing or doing standard 10 years or PAYE. Once I’ve made my decision, I will definitely make a post on that.

For now my strategy is still the same. I am utilizing what is known as the “debt avalanche” method of tackling debt. It is the idea of putting extra payments into the debt with the highest interest rate.

I may go with the “debt snowball” method (paying the loan with the lowest amount first) next to just pay off my Perkins loan which is processed through a different loan servicer just to get it out of the way. It’ll help take the stress away of worrying about one extra thing and it is only a $1,300 which is a minuscule amount compared to the rest of my $135,000 debt.

Wow, can’t believe how good $135,000 looks compared to my previous $150,000. Anyways, I do have a couple of different posts up in mind that is along the personal finance line but not necessarily about debt that I plan to update the blog with so stay tuned. 🙂