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Breathing room on student loans

July 12th, 2011 at 11:19 am

I have been making income-based payments on my student loans since April. I gave them my pay and my ex's pay info, and that is how they calculated my monthly payment of $409. Ouch. I updated my student loan info with our AGI instead, which is much, much lower. Now my new income-based payments will be $103 a month! So much easier to handle! I also currently qualify for the public-service student loan forgiveness program, or at least I will after 10 years of service and payments.

I've gone ahead and set up an automatic investment into ShareBuilder. I have a good start on my safe long-term savings and feel ready to start contributing to stocks again. If I lose my shirt, I still have my long-term savings. Though I need to start looking at stocks as long-term savings that just happen to fluctuate.

Posted in Uncategorized | 1 Comments »

1 Responses to “Breathing room on student loans”

  1. Jerry Says:
    July 15th, 2011 at 07:00 pm 1310756404
    1310756404

    That is great that the income sensitive repayment option leads to such savings for you! Add to that the loan forgiveness program and you can really have some insurance of making progress, and not feeling under the barrel. Good luck with everything!
    Jerry

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