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Our Bill Pickle

real life with (very) real debt

Repaying the student loan: an update

November 25, 2021

Paying off the student loan has been our top financial priority over the last few years. But lately, we have slowed our progress. This is why.

Repaying the student loan has been our top financial priority for the last few years.

Like many others, we started our adult lives in the red. Our $65K-ish starting debt wasn’t entirely student loans. We had a couple small credit cards, a car loan and a credit line balance from a previous vehicle, too.

But the majority of that $65K — close to $48K — came in the form of student loans.

While I can’t deny student loans made it possible to finance an education that has opened a lot of doors for us, I also won’t pretend they are not the actual bane of my existence.

I want these loans gone. And we’ve put a lot of work (and money) into making that happen.

Until recently.

Lately, we’re less focused on the student loan. In fact, for the better part of 2021, we’ve only made minimum payments. This has slowed down our progress significantly.

But it’s OK. And today, I want to talk about why.

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Posted by Tara Leave a Comment
Filed Under: Debt Tagged: Canada student loans, debt, debt-free journey, student loan, student loans

Hi, I’m Tara!

Welcome to Our Bill Pickle, a Canadian personal finance blog. Here, we share the good, the bad and the ugly about real life with (very) real debt.

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