Friday, August 26, 2011

Great News!

A while back I posted a marathon post about how I screwed up and might not get two years of my loan forgiveness. I will be much shorter, but because I teach in a low-income area I am eligible for $11,000 of loan forgiveness. I got the first $5,000 a while back, but then messed up on the forms and the last two years worth never showed up. My mission for the summer was to get this straightened out.

I already sent the paperwork requesting to be reinstated about six weeks ago. When I called yesterday I heard the good news that they accepted and I will be getting my $6,000! YES!!!!!!!!

One of the payments is in route and will take eight to ten weeks to post to my account (so mid-November) and the other one requires another form and will take six months or more to post. In short, by the end of this school year my debt will be cut in half!

I'm so stoked and glad that I took care of this! It also made the want to put some more intensity into paying off that loan, since it's my last remaining debt. I am planning for my tax return to go toward my student loan, and may be reassessing my budget to include some extra student loan payments this year.

But for now, happy dance!!!


  1. Awesome news! You will be completely free very soon! :)

  2. Congratulations, I remember reading the original post and your plan to follow through on getting the right forms done. Your time and effort over summer has been well rewarded.

  3. Man that is fantastic!!!!

    Good for you for straightening that out. I have to ask though, are you teaching in the area you want to teach in, or just because it will reduce your debt??? are you stuck teaching there for a few years because of the loan forgiveness program?