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Baby Corner Message Board > Parent to Parent > Coupons, Savings & Money Matters How has the economy affected your debt pay off?



How has the economy affected your debt pay off?

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Old 02-19-10, 08:12 PM
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The economy hasn't hurt us too bad. We did get behind on our payoff plan when we had the baby and had to get a new car and I was off work etc etc last year. But we are looking at being able to pay off my student loan with this year's tax refund and then we will be totally out of debt except for the house
 
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Old 02-22-10, 05:05 PM
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That's great that you are paying off the school debt! Dh is just finishing his higher education at the end of this year and his school loans are really scarey. We are hoping though that he will qualify for a program we heard about for federal loans that is income based. We figured at the amount he should make once we becomes an administrator, they should cap his loan payments at about $300/mo and because he's an educator, if he pays consistantly for 10 years they will forgive the rest of the loans. It isn't ideal to know we'll still be debt for another 10 years, but it will be a fraction of what we would have had to pay out. And hopefully in that time we should have our house paid off.
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Old 02-23-10, 01:27 AM
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that's great.
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Old 02-23-10, 10:07 AM
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Janine just remember that student loan debt is considered "good debt". Also you get to use the intrest you pay each year as a deduction on your taxes.
 
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