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Posts tagged with: talking about debt

Talking about debt

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This past weekend I took the girls to one of their friends’ birthday parties. I was hanging out chatting with the other moms when I mentioned my husband heading back to school and the crazy discount we receive ($25 per class!!!). It’s practically free!!

One of the mom’s lamented, “Must be nice, I still have 20 years left on my student loans!”

Another mom chimed in, “I just applied for public service student loan forgiveness so mine will eventually be forgiven.”

Another mom also nodded, mentioning how the interest payment, alone, is the same as her car payment.

And I said….nothing. It felt too odd to chime in that we’re actively working on aggressive student loan pay-down. Like it would be smug or elitist or something to suggest an alternative option. No one pays off their student loans early. Would I come across as conceited or like I’m talking down to them? What do I even say? “Well…just so you know, there ARE other options. I started with nearly $100,000 in student loan debt but I’m now down to about $70,000. If all goes well it should be gone in just a couple of years!!!” (Insert big smile here)

It just didn’t feel like it would go over that well. And I didn’t want to be “that person” making others feel bad or to come off like I was bragging or something.

What would you do? These are not close friends (my close friends & family are all very aware of our debt journey). These were random acquaintances. Parents of our kids’ friends. I would love to give them some hope that it IS possible to pay off even outrageous debt in less than the mandated loan length. I honestly think many people don’t even consider it an option. It’s never occurred to them that it’s possible to pay it off early.

If you were in a similar situation would you have spoken up?

I’m genuinely interested because I want to be a source of hope for others that it IS possible…but when I’m still in the trenches myself I can’t say “I’ve done it, you can too!” (because we still have a LONG way to go before we’re done!!!) Plus I really fear coming across as pretentious or condescending if I were to say something. Thoughts?