I’m going to be honest, I am having difficulty mustering the same level of vitriol for Private Student Loan 4 (PSL4) that I had for Private Student Loan 3 (PSL3). While I wouldn’t classify any student loan as “friendly,” PSL4 had the “friendliest” terms of my private student loans. I don’t know that I would still be planing to pay this loan off next if the Pennyfolk hadn’t voted to send it to the chopping block.
Minimum Payment: $245.40
Balance as of 7/4/2019 (blog start): -$13,280.33
Balance as of 8/1/2021: -$9,486.04
Current balance: -$9,103.61
There isn’t really much more to say… In terms of my motivation, I am looking down the road a bit and I am far more interested in getting my overall student loan balance to under $90,000.00 by December 31, 2021 than I am singularly interested in dispatching this loan. However, I will try to remain focused on short term goals, like earning an additional $1,000.00 of gig income this month, and know that if I do what I am supposed to do, this loan will be felled.
Ms. Afro Penny 
You got this AP! 💪🏼 I totally get the lack of motivation. There’s always the high after finishing off one loan before realizing you have to start the process all over again. I’m sure it’ll be gone before you know it just like PSL3.
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Thank you for the support Avery 🙂 I’m just trying to keep it real for anyone who reads this later…motivation fluctuates and there will be days when it just a slog. I think you’re exactly right, and it was the high of making it under $100K and paying off PSL3, and then having to move on and start down the road.
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With PSL3 gone, and adding in the gig income, PSL4 really will be gone in no time. It cannot withstand your determination! 🙂
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Thanks, Ellen 🙂 I think maybe I’m looking too far down the road and need to create some shorter term goals. My goal for August is to get my balance on PSL4 under $8K.
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This makes sense to me. For one thing, it’s just the post-payoff slump! I think it makes sense to look down the road to getting under $90K, which does excite you, because, well, if you pay this loan off you’ll be under $90K. So maybe don’t worry so much about this loan disappearing but watch your overall balance drop?
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Thank you for the support and advice C. I’ll do that.
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