2009 Apr 05 terra

Guy Blade Guy Blade---12:14:00

Obligation Fulfilled
So, as of today, I have no student loan debt. Both my Perkins loan (through RHIT and administered by ACS Education) and my Direct Loans (through the Department of Education) have been completely paid off. I made my final payments on both earlier this week and they finally cleared today. In anticipation of this, I've begun to change my paycheck allocation. Since I won't need to be able to pay a few hundred per month to my loans (though really I only needed a bit over $100 at minimum rates), I'm redirecting an additional $100 per month straight to my 403(b) account. I'm also going to bump my savings rate slightly from the current 10% to either 13% or 14% with the goal of using that savings to eventually buy a home. It's hard to say when such a thing will be viable because I'll have to do some hard number crunch with respect to how loan interest tax deductions end up fitting into the monthly recurring cost of a home.

I will continue to have debt as I make liberal use of my credit card, but so far I've been very careful so as to always pay off my card at the end of each month (if not earlier) and have thus never incurred any interest on the card. It is nonetheless nice to be able to say that I am (mostly) debt free.

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