Showing posts with label payoff. Show all posts
Showing posts with label payoff. Show all posts

Saturday, January 18, 2014

Paying It Forward

                Today I receive my Cleveland State University Perkins student loan payoff letter. In it the university says that since I’ve paid off my loan, my money will be used to make loans to other students. That’s an unknown added bonus for me because I know the struggle.  Although I graduated 12 years ago, I know what it’s like to be struggling for money. I worked at the Upward Bound and took out Perkins loan to afford the tuition. Luckily, I was an Ohioan so I received the in-state rate.  My Cleveland State University education has helped me land a GS-9 Economist position in my first government job.  Currently I am a GS-14. I want my money to go to current students so that they can have the same if not greater opportunities than I do.  Below is my payoff letter.

Paying it forward just doesn’t stop with new students. It continues with me because now I am more motivated to payoff my American University tuition debt.  I will use my tax refund to pay it off because it has been 3 years since I last matriculated. It should be over by now!
Cleveland State University Perkins Student Loan Payoff Letter

Monday, December 30, 2013

Not Waiting Until 2014 to Clean My Financial House

            I transferred some money from my savings to my checking to payoff my Perkins student loan. I figured that I had the money why wait until 2014 to pay it off.  Furthermore, it would decrease my indebtedness, increase my creditworthiness, receive a payoff letter that I can send to all three credit bureau, and help my 2013 tax situation. 
The momentum I created today won’t stay in 2013. It would continue well into 2014 because I aim to payoff another student loan.  I have already decided to pay money each paycheck to accelerate my repayment. I will be done by July 1, 2014.  When I receive my state and federal tax refunds, I will use these funds to pay down my debt. Improving my finances are a 2014 resolution.  Even if it means my missing NBA All-Star then so be it because my credit rating matters more.