Nothing worthy of a preamble. To the numbers…
| Account | Debt | Min. Payment | Interest Rate |
| Private Student Loan 1 | $0.00 | $110.46 | 0.000% |
| Private Student Loan 3 | -$6,136.07 | $153.82 | 6.620% |
| Private Student Loan 4 | -$9,549.80 | $245.40 | 3.750% |
| Private Student Loan 2 | -$7,046.73 | $93.30 | 5.120% |
| Federal Student Loan 1 | -$21,440.37 | $0.00 | 6.800% |
| Federal Student Loan 2 | -$13,946.84 | $0.00 | 5.310% |
| Federal Student Loan 3 | -$11,184.47 | $0.00 | 6.800% |
| Federal Student Loan 4 | -$7,748.09 | $0.00 | 4.450% |
| Federal Student Loan 5 | -$5,561.12 | $0.00 | 4.450% |
| Federal Student Loan 6 | -$3,147.30 | $0.00 | 5.600% |
| Federal Student Loan 7 | -$2,863.10 | $0.00 | 4.660% |
| Federal Student Loan 8 | -$2,457.12 | $0.00 | 6.800% |
| Federal Student Loan 9 | -$2,307.18 | $0.00 | 6.800% |
| Federal Student Loan 10 | -$2,003.02 | $0.00 | 5.600% |
| Federal Student Loan 11 | -$1,639.01 | $0.00 | 6.800% |
| Federal Student Loan 12 | -$1,144.25 | $0.00 | 5.600% |
| University Student Loan 1 | -$3,935.56 | $60.41 | 8.000% |
| University Student Loan 2 | -$3,090.59 | $0.00 | 0.000% |
| University Student Loan 3 | -$537.00 | $30.00 | 8.000% |
| University Student Loan 4 | -$339.39 | $30.00 | 8.000% |
| Total | -$106,077.01 | $723.39 |
March 2021 – Student Loan Balance(s): -$108,604.18
April 2021 – Student Loan Balance(s): -$106,077.01
Total Payments: $2,657.31
Net Difference: $2,527.17
Not bad! Only $130.14 went to servicing interest this month. The combination of low interest rates, the federal student loan interest rate abatement, and temporarily living with my parents means that the interest accruing on my loans is the least it has ever been and I have the ability to make the largest payments I have ever made.
Student Loan Target Update
Four months ago, I took the advice of the Pennyfolk and began targeting Private Student Loan 3 (PSL3) for aggressive repayment. I had a list of reasons for why I hated this particular student loan, the least of which was it’s egregious 6.65% interest rate at a time when interest rates were at an all time low. Unsurprisingly, one of my 2021 Financial Goals is to payoff both PSL3 (-$10, 666.59 as of 1/1/21) AND Private Student Loan 4 (-$9,997.13 as of 1/1/21). So, three months into 2021, am I on track to meet this goal?
March 2021 – PSL3 Balance: -$8,454.39
April 2021 – PSL3 Balance: -$6,136.07
…I think I am. If you read my April 2021 Budget post, then you know I shared that given my current progress, I should have PSL3 paid off in June. However, what I didn’t notice until I began writing this post is that paying off PSL3 will also bring my overall student loan balance under $100,000.00. I. Know.
Thank you all so much for the continued support and check-ins. You have no idea how helpful it is to have a place to share the highs and lows of debt repayment.
Ms. Afro Penny 
amazing!!!
How much of a pain would it be to add another column to these updates that shows the original loan balance (or where you were with each when you started blogging, anyway)? It’d be so cool to see how much each one has dropped since the beginning.
It must feel amazing to be so close to ditching that one. And really to be fairly close to ditching your private loans altogether! That’ll be such a huge milestone.
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Excellent suggestion, C! I will include this column on future updates. It makes more sense to include the totals that are included in “The Breakdown” post as the origination amounts wouldn’t include ten year’s worth of interest.
I’m so, so excited. Trying not to wish my life away but so excited for PSL3 to be gone, be under $100,000.00 in overall student loan debt, and begin chasing being under $90,000.00.
Yes, I think a 2022 goal would be to finish paying off my private student loans (PSL2) before medical school. *crosses fingers*. If I am not accepted to medical school, then this goal would obviously get much bigger.
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Can’t wait for your double celebration of paying off PSL3 and being under $100k! I love it when things just align like that.
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You are doing so well! It’s inspiring! I’m working on paying off credit card debt right now then student loans after that. Glad I found your blog!
– K
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Awe, thanks so much K! Always excited to have another journey to follow…thank you for sharing the link to your blog as well. 🙂
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Very inspiring! Sorry if this is a double comment… WordPress has confused me right now. I’m glad I found your blog. I’m working on paying off credit card debt right now. Then it’s on to the student loans…
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No worries! You probably just couldn’t see your first comment because it is a “pending” comment until approved. Any future comment you make will automatically post now because I approved your first. In any instance, thank you for taking the time to comment. It is very much appreciated. I will head on over to your blog now.
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