This goes beyond a student loan. This is a good idea with other long term loans
as well. That's why you should not live above your means, and not have a
plan to pay off that which is owed.
"Her trick, she said, was having the motivation to get rid of the debt, so
she was willing to forgo things she wanted to do.'I
didn’t want to sacrifice a little for 10 years or even five years. I
wanted to sacrifice a lot for one year,' Wong said.”--------------------Smart move Kristin!I did the same
thing when I graduated 30 years ago (with about half the debt you had) and have
been thankful ever since.Having a noose of debt around one's
neck is no way to live. The faster one removes it the sooner one feels free.
I did similar with mine and my wife's. One thing that helps pay it off
quickly is that once you go from student to being paid fulltime, you get a much
bigger income, but you're used to living much below what you're
receiving, so it's a great time to just get that sort of stuff out of the
way. I know every once in a while there are certain politicians who
want to forgive all student debt or something crazy like that, but it really
isn't necessary for most of us. We just pay what we owe as quickly as we
can and try to stay out of debt.
Nice, it took me 3 to pay off my 18k so I was only managed half the rate she was
pulling (6k/yr vs 12k).