Reply to If you took out six figure student loans for a professional degree, what was your strategy

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Came out of law school in 2007 with $175k in loans, most at 6.8%.  Paid as agreed the first few years while maxing out retirement and investing, using my stub bonus for cash savings.  Then I got laid off and had to do the contract attorney thing but did not put the loans in forbearance, which was tough but I knew the interest would create a snowball if I took a year (or more) off.  Got another, lower-paid job for a couple of years and continued to pay as agreed while building back my emergency fund.

Then I got another Biglaw job and paid off each of the >3% loans, one after another, in like 18 months.  I didn't trust the income to last and wanted something tangible to show for it if it disappeared again.  When DH & I combined finances I paid this off too.[/quote]

Curious when you and DH decided to add homeownership into your financial picture...[/quote]

He already owned a condo when we met, and we bought a home together about 6 months after paying off the loans.  If we had met sooner it might have been different - it's not like we lived together for 5 years very frugally paying everything off.  I paid at least 50% off before we met, 90% before we combined finances.[/quote]

Great!  Yes it is much easier to pay down debt when married/living together to save housing.

I just like to see there are people who take paying off debt seriously.  Many people who don't are just setting themselves up for financial issues in the future. Delayed gratification is not something most follow in the US[/quote]

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