Miss Bonnie MD is now Wealthy Mom MD!

Student Loan Countdown

The chain of student loans. each link is $2,000.

Follow me on this page to watch me pay off my student loans!

When I graduated medical school, I had about $160,000 in loans…after 5 years of forbearance + deferment, I ended up with $210,120 by mid 2015 (ouch):

  1. $85,816 @ 6.8% fixed → refinanced to 2.99% variable
  2. $46,551.56 @ 3.125% fixed → refinanced to 2.25% fixed x 5 year term
  3. $19,558.84 @ 2.4% variable → refinanced to 2.25% fixed x 5 year term
  4. $10,009.75 @ 5% fixed Paid off in 2016!
  5. $30,788.99 @ 4% fixed → refinanced to 2.25% fixed x 5 year term
  6. $17,395.82 @ 2.75% variable → Paid off in 2017!

End of 2016: $187,000

Goal for 2017: Pay off $50,000 Pay off $100,000 (ok this is ambitious and I may not quite make it!)

2017 Updates:

  • Made $5,500 extra payment to loan #6, current balance = $180,000
  • Made $8,253 extra payment to loan #6, current balance = $171,750
  • Made $2,846 extra payment to loan #6 – paid off!, current balance = $168,100
  • Refinanced ~ $80K of my loans to 2.25% fixed x 5 year terms with First Republic Bank

2018 – PAID OFF IN FULL in January 2018 !!!