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Posts tagged with: student loan deferment

Considering Student Loan Payments


My student loans are in deferment until next spring. Up until this past week, I hadn’t made any payments since they went into deferment.

But I know the interest in accumulating and adding to my already large balance. And it’s time I did something about that. Even if it is just a little something.

I asked the BAD Community for guidance on what debt I should be targeting over the next couple of months last week in my September Debt Update.

Student Loan Balances

Here is where it stands right now (screenshot taken 9/10/18:)

student loan balances

I’ve never really paid attention to the Group A and Group B and I’m not sure how that affects anything since they both have the same interest rate.

Plan of Action

With a target on a different debt, I have some questions about my student loan plan of action. Knowing that no payments are due until next spring AND that it is accruing some interest.

  1. Should I add a small regular payment toward my student loan debt to my monthly budget?
  2. If yes, should I target a specific Group? And how does that matter?
  3. If yes, how much should I add to my monthly budget? I’m guessing it should be enough to cover interest and prevent an increase in the on-going balance.

I paid $100 toward Group B last week. Another one of my flying by the seat of my pants decisions. But I feel like I need  a solid plan with this. And I need your advice.


Debt Update – September, 2014 – Hope


Well, it’s been a while since I did a debt update.  And while I haven’t made a bunch of progress there have been some tiny steps…so here’s where I’m at as of today.

Debt NameCurrent BalanceInterest RateMin. Mo. PymtPriority OrderEst. Payoff
Checking Account$7410%$01Nov, 2014
Credit Card - Retail$3,22325.99%$992Jul, 2015
Credit Card - Consumer$504313.90%$1053Jan, 2016
Student Loan$32,5102.875%$04Sept, 2019
Car Loan - Accord$1,9000%$05Nov, 2019
Car Loan - NV$29,4046.79%$6966Oct, 2018

Some notes:

  • Student loans are in deferment and I’m hoping to get approval to continue that for another 6 months to get me on solid ground with everything else.
  • Currently I try to pay about $400 more than the minimum towards debt.
  • The Car Loan – Honda will be taken care of with the sale of my house.  My dad and I have agreed that he deduct that amount in full from any monies I have coming from the house, but until that is a done deal I will leave it on my list.
  • The Car Loan – NV will go away as soon as the car sales.  While is has certainly been a blessing to have with this move, I am ready to be out from under that hefty monthly obligation!!! (If it were to be gone in the next month, that would move my final payoff date to July, 2017, how cool would that be!)

These notes are all based on my current budget, but with moving into a smaller, less expensive space I hope to free up some more monies to throw at debt.  I just haven’t had time to sit down and look at a new budget yet.  It’s going to have to wait until after the move.