$24,666.06 Down

Day 11 | $24,666 paid | $66,051 till freedom

Please give me a moment; I think I’m still in shock.

I just paid $24,666.06 to close out my CitiAssist Loan and subsidized HBS loan.

Combined, the two loans started out at $25,000, payable over 15 years at a monthly payment of $186. I’ve been making payments for over 21 months, but managed to chip away at only $334 of principal during that time. If I had gone full-term with the loans, I would have paid $8,480 in interest.

That leaves me with the following balance sheet:


  • Cash: $6,300
  • Vehicles: $22,300
  • 401k: $37,500
  • House: $0 (I owe less than its value, but realtor fees would erase any potential profits from the sale)

Total Assets: $66,100


  • Student loans: $66,051
  • Credit card balance: $1,600 (to pay off at end of month)

Total Liabilities: $67,000

Net worth: ($900)

Paying off the $25k was easy–I used money that was just sitting around. The remaining $65k is going to be the challenge, as my liquid assets are basically depleted. Tonight I have pedi-cab training at 9 PM, and hopefully the roommate interview is still on for 7:30 PM–she still hasn’t confirmed.

I don’t think it’s hit me yet that my life savings of $30k are almost completely wiped out.


Filed under General Status Updates

10 responses to “$24,666.06 Down

  1. Wow! Congrats on the pay off! I have been following your blog and its truly inspiring. I had $25k in student loans (down to $19k now..) and I am always looking for way to get rid of that burden. Thanks for the ideas and your updated progress. I also enjoy reading about your adventures in Austin.. I’m about 4 hours south of you. Anyways, congrats again!

  2. Nancy

    Awesome job!! Just to be sure, did you get the payoff amount from the lenders? That can be more than the amount due on the website. Just make sure that you get that if you haven’t because you wouldn’t want to think you paid off your loan and then default for like $15 in interest. In any case, that is amazing! Keep up the good work!!

  3. Cassie Olson

    WooHoo! So happy for you!

  4. If you have a $22,500 car, according to my 1/10th rule, you’re making around $225,000 a year in gross income right? If so, isn’t that good enough to slowly chip away at your school loan?


  5. Pingback: 4th Teach-Back’s a Charm | No More Harvard Debt

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