PAID IN FULL – Private Student Loan 3 (PSL3)

I have logged into my AES account, the servicer for Private Student Loan 3 (PSL3), at least eight times today. Generally, if the payment is authorized prior to 1:00PM CST on a business day, the payment begins processing by 5:30PM, and is credited to the account by 8:30PM. (Yes, I know how incredibly sad it is that I have devoted grey matter to that bit of information.) Well, today AES decided to undergo “regular site maintenance” for general “security” (yes, I’m being cheeky) which meant the balance didn’t update until 10:30PM EST. But it finally did, and it was glorious.

And that’s all she wrote folks. PSL3 is official dead and gone. Well, maybe not all there is to write…

Private Student Loan 3 Payment Recap 

This student loan was targeted for repayment after the Pennyfolk weighed in and because I hated it for so many reasons. Unlike PSL1, a little luck, a little hard work, and a little momentum were on my side and I was able to start chopping away at this student loan pretty aggressively from the start.

Minimum Payment: $153.82

-$11,207.28 – Balance on December 4, 2020 when I began targeting it for repayment.
-$10666.59 – January 1, 2021 balance
-$9646.94 – February 1, 2021 balance
-$8454.39 – March 1, 2021 balance
-$6136.07 – April 1, 2021 balance reflected a portion of my tax refund and an increase in my monthly payment as a result of the generosity of my parents letting me to stay with them, rent free, after my apartment flooded.
-$4307.78 – May 1, 2021 balance
-$2466.86 – June 1, 2021 balance
-$2325.63 – July 1, 2021 balance reflected only a minimum payment in June as a result of me needing to pay off my month long gallivanting with my best friend in May.
-$847.07 – August 1, 2021 balance reflected a return to disciplined spending in July and my foray into the world of gig apps.
$0.00 – August 2, 2021 balance; will be reflected in student loan balance update on September 1st

Within the span of one week I have celebrated making it under $100,000.00 in student loan debt AND paying off PSL3. It has been kind of amazing. When you have as much debt as I do, weeks like this are often few and far between. So I am just trying to take this moment in and enjoy it…until tomorrow when I will turn my attention to the next student loan up for aggressive repayment.


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