Student Loans Suck: December Update

Happy New Year!

New year, new beginnings. I write this from a half-unpacked living room in Midland, Texas, while my pets keep me company and the Boyfriend sleeps in our partly-unpacked bedroom. Obviously, an update is more than overdue.

First, a confession: I didn’t pay anything to my student loans during December. Not one dime. I also got a new job, moved away from the DFW area and generally mixed things up a whole bunch.

Let’s start with the first elephant in the room: for now, I’m leaving journalism and the equine industry for a completely different career path, details to come. (Yes, I have a job lined up and will start in a few days.)

Part of the crazy changes included a move to Midland, Texas, booming oil town and now-home to me and the Boyfriend. With great job opportunities for both of us, the decision to relocate came with only a little anxiety.

Knowing that a move was on the horizon, I paused all loan repayment to stockpile some cash for the move and transition. The way the timing worked out, I took two weeks off from working, and it’s been great to have that time to spend with family over Christmas, get moved and unpack. So although my balances haven’t really changed since the end of November, my new job will let me attack these things with an even bigger hammer in 2015.

And now, looking ahead. I will be debt free by the end of 2015. I’m waiting on some details to finalize a real, concrete budget, but best case scenario will be that I will pay more than $1,500 each month toward the loans. I should be able to finish my personal loan by the middle to end of February. Until then, my student loans will just sit, happily gathering interest with not a care in the world.

January Goals:

  • Get a good, solid budget set up based on my new income. Some of this will include coordinating a house budget with Boyfriend, a totally new experience for both of us. Even though we’ve had roommates before, it’s a different thing to coordinate food and household items (we have a wish list going on things we want for the house) with a significant other.
  • Get personal loan to no more than $1,600.

Student Loan Principal As Of October 31: $9,860

Personal Loan Balance As Of October 31: $3,200

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