One of my life’s biggest financial goals is to pay off all student loans. Well, after starting to repay my student loan 10 years ago I finally paid it off this month!
After graduating in 2005, I got 30 years to pay back $46,716.84 in student loans. However, I choose to pay them off early to save me a good chunk of money. For me, paying off debt is considered as an investment as I receive a guarantee annual rate of return equaled to the loan’s interest rate. Lastly, by paying off all of my student loans I free up more cash flow to invest for retirement each month.