So I recently wrote about another post on how I found out that I have savings bonds in my name, and that the state in which I live in had money for me.
Yesterday I was able to cash in those savings bonds for around $800. It went well and my bank deposited into my savings account. Before I apply this money to my loans, I owe $21,659.98. I have $403.10 in unpaid interest. I plan to forsure throw the $800 at the loans tomorrow morning.
I sent in my paperwork for the $200 the state has in my name. So I know it will take sometime there to see what happens. I’m not holding my breath but I will follow up in a few weeks.
My Mentors
I have a few mentors and coaches that I’m on their email lists. And many of them are talking about 2022 goals. But I am reading Atomic Habits and Richer, Wiser, Happier. And both of these books talk about enjoying the process or “systems” of reaching your goal.
My main goal in 2022, hopefully, will be to payoff my student loans for good. So as of today, that is to knock out $21,659.98 in student loans.
The process will look like, researching ways to pay them off sooner. Using those ways. Communicate the whole process in blog form, to help others achieve the same goal. Then help my wife kill hers. That’s the plan.
Wish me luck on that one for sure.
More Than One Way
So when looking at a problem, you really have to look at it from different angles. When my wife and I watch the NFL, it’s great that we now have way more than one angle to review a play. So we have to use that idea in the same way when attacking student loans.
One way is that we could pay them down. Another angle might be able to find someone else to help pay it down. Another angle may be for us to get a partial forgiveness on the loans.
That is my next approach for the student loans, is getting them partially forgiven. I am a teacher full-time and I have been teaching for more than six years. There is a forgiveness incentive for teachers who have taught at impoverished schools for at least five years.
I am hoping to meet this at the end of this school year. That could be potentially $5,000 forgiven. Which would be huge, cause that’s almost 25% of what I owe now.
I plan to find more angles in attacking my student loans, and I hope to share all those ways on here.
Wish me luck!
-Emilio
Emilio Gargano 