When I got my degree, I did some basic calculation on the repayment terms and figured I'd be 36 when the loan was finally paid off. Well I'm not 36 yet and I checked the balance on my Student Loans today to find out (much to my surprise) that I only owe $96 and I'm done.

I didn't rush to pay my student loans off as it's secured debt, which actually helps improve credit rating. But, it's nice to know that I'm done paying so much each month for a degree I never used.

Congrats...

It's always a good feeling to finally get out of debt. ^_^

Of course it's an even better feeling not to get into debt in the first place, but sometimes that's unavoidable :| Only the ultra-rich and/or ultra-lucky are able to pay their full college expenses without loans. And, of course, you can't always predict the future and see whether or not you'll actually use the degree or not :P

mine still has a while. owing 6grans and only paying back 75 a month takes a while. will be nice. but il be much hapopyer when my car loan is paid off lol.

Being done with my student loans doesn't mean being out of debt.

Must...hold back...Futurama reference...dammit

Your student loans have been repaid? Well, how about a loan for your friend Zoidberg, Mr. Millionaire?

Congrats Woody.

While it doesn't mean being out of debt, it means that you can now put that money towards the rest of your debt.

Being someone who just finished paying off student loans this year, while simultaneously going back to school, I can completely sympathize. And while you may never use the degree for what you originally planned, it's amazing how many doors open due to the fact that you have that piece of paper.

the student loan thing is something i will never understand about the US. I live in the Netherlands and here there is a token amount that has to be payed by the student (I think it's averaging about 1500 euro's a year.), but the government also pays students above 18 about 200 euro's a month when living with his or her parents and about 500 when he or she lives alone to make sure that they don't have to work all the time and stay in school.
They even promote certain directions by paying students that get that degree a "bonus". for instance: in a few years we'll have a shortage of teachers so they are paying students without a teaching degree 1250 euro's a year to get one and students that already have a teaching degree get payed 3000 euro's a year to add another specialty.

I like the idea of a government investing in the education of it's citizens... somehow making them pay everything seems like that government is trying to keep people stupid by making it harder to get a good education..

m2c

17k more for me......$120.00 a month about 12 more years. Money earned with my degree $1.62.

Chiv, that's an awesome system. I've heard of a few countries in Europe that support their students through the undergrad level. But here they need to pay for the Football team and the basketball team or else students won't come to their schools...stupid system.