Have you ever gone through a bad debt experience and even though you hopefully no longer have those debts you still get flashbacks to those stressful times?
That’s the way I feel about Chris’ past school loan debts.
Yeah, I had loans for school too that I had to pay back, but Chris’, thanks to him going to one of those private colleges that are supposed to speed up the learning process and charge an extraordinarily high fee often without producing the results they claim they will, we had a huge loan to pay off. I only wish that we had done one of those school loan consolidation programs instead of suffering through years and years of payments that we couldn’t afford and the stress that it caused.
I know if we had done some research and taken out a consolidation loan for his school debt, and mine that we were paying off at the same time I wouldn’t have these terrible “owing money” flashbacks.
Fundamental offers school loan consolidation for those who qualify. They have a secure online application process that can significantly lower your monthly payments, and might even save you a lot of money.
Oh and they don’t charge any prepayment fee’s or penalize you for making larger payments. That’s great too, because if you did some how have enough money to pay off a chunk of your loan wouldn’t it be great to do so without any kind of penalty. I know a lot of places that offer loans only allow you to pay back a certain amount of what you owe over your regular payments. Fundamental doesn’t.
I bet if we consolidated our school loans we would have paid them off faster and with a lot less stress. Instead I think I have post traumatic loan disorder?
Anytime we start to think about taking out a loan I get the hebejeebees over it. I’m certainly not a tight wad, but now that we pretty much only owe money for our mortgage I’ve come to like it that way. I’d rather be able to pay for something outright, or only owe a very small amount, than to look forward to years of payments.
Have you had bad loan or debt experiences that have stressed you out too? Or were you smarter than we were and went the school loan consolidation way?
Hey, there’s nothing wrong with being a tightwad! Actually, I write a lot of frugal living articles on my blog, and I even wrote one called being stingy vs being frugal. Anyway, good luck with paying off the student loans. However, I think that some debt like mortgages are healthy.