Mar 14, 2014 11:50
One of the major components of my debt load is my student loan. Well, loans, in fact. The loan is divided into four parts. I treat it as one amount most of the time. Each month I have over paid it slightly. Rounding up the amount less than a dollar to the next dollar that dollar amount to the next higest multiple of 5. So if I owed $402.23 one month I would pay $405. The excess I have always applied to one of the loans. Over the years this practice has dramaticaly paid down that one part of the loan. It sits now at just above $500 while the other three parts are each above $2000.
My tax refund came this week. $7026. $2753 later the highest of the three larger loan amounts has been paid off in full. Yay.