I received this letter from a BIDER reader who was successful in ridding himself of the Sallie Mae monkey on his back.
Angel-
was looking at your blog today as i like to do from time to time. it is quite entertaining. :)
then i saw this article on yahoo and thought you might want to share it.
i would agree with it's basic premise--focus on highest interest debt first and concentrate on paying that off first with all excess money.
i knocked off a total of $47k of private loans in 18 months. now i am focusing on the fed loans, and in just 12 months (since the layoff last year) have gone from $62k down to $29k this past week. I should be done with ALL law loans by this time next year.
granted i still don't have cable tv or internet service at home, and drive a '92 honda hatchback, but i won't be paying when i'm 60 years old, for what may be perceived as a huge mistake i made when i was 25. :)
Good for you, BIDER reader! I hope that BIDER readers learn from your example. Unless, they up and move overseas and avoid repaying it all together. That's probably a better option!
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