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14 Years of Debt

posted by DL Byron on January 05, 2006

SallieMae wrote to thank me for being a great customer, congratulate me on paying off my student loans, and wish me luck in the future. I looked over the mail and noticed the date of the first loan — 1992! 14 years of college debt finally paid off. During the lean times, back in the dotcom bust, SallieMae was always the last to get paid and at the 6.65 percentage rate, I probably could’ve gone another 6 years. I also then considered what it’s going to cost my children to go to college …

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Jan 06  |  Teresa Valdez Klein said:

Hey B, One thing to make sure your kids consider is the amount of merit aid they’ll receive. There are a number of private liberal arts colleges that now offer enough merit-based aid to reduce the cost of college dramatically.


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