Did you celebrate your final student loan payment?

[Cookies Galore]

I paid off the balance of my Perkins loan this morning. Yay! It was a not a big deal loan, the quarterly payments were $120 and my balance was $344. I was just antsy to be done and never needing to remember that bill ever again! My Stafford will be paid off in May. That monthly payment isn't bad either ($150) and I already know that money will become extra 403(b) and savings contributions. Boring! I'm thinking I need to do something to celebrate but since it's not like my loans are $600/month and killing me, I'm leaning toward something low key, like a pizza party. Because everyone loves pizza.
How did you celebrate your final loan payment?

[swamp]

I don't remember, but I know I did something.

[kittensaver]

Well I know a few folks are going to think this is bizarre, but I cried. They were tears of relief. My dad died suddenly when I was in college, and it was grants and loans that helped me finish and not drop out. I was relieved that I "made it," but it also felt like I was saying yet another piece of goodbye to my dad.

[NancysSummerSip]

I burned the payment stub book. Which really dates me, because I paid off my student loan in the era of payment books and mail-in coupons.

The monthly payment was about $31. Really. Seemed like a lot back in the Stone Age.

[Cookies Galore]

Oct 10, 2013 12:35:41 GMT -5 kittensaver said:

Well I know a few folks are going to think this is bizarre, but I cried. They were tears of relief. My dad died suddenly when I was in college, and it was grants and loans that helped me finish and not drop out. I was relieved that I "made it," but it also felt like I was saying yet another piece of goodbye to my dad.

Aww! ♥

[kittensaver]

Oct 10, 2013 12:38:45 GMT -5 Cookies Galore said:

Oct 10, 2013 12:35:41 GMT -5 kittensaver said:

Well I know a few folks are going to think this is bizarre, but I cried. They were tears of relief. My dad died suddenly when I was in college, and it was grants and loans that helped me finish and not drop out. I was relieved that I "made it," but it also felt like I was saying yet another piece of goodbye to my dad.

Aww! ♥

By the way - BIG congrats meghan!

[Deleted]

Congrats!!!

I just paid 2 small loans and we did nothing... We are so far away from being done that is was a small blip on our radar.

[reader79]

After Sandy, I used the insurance money from my car to pay off the last $2500 or so from my Stafford loans. I didn't really celebrate then, but I'm thinking about doing a little something when my Perkins ($900) is gone. Maybe go back to school and finish?

[shanendoah]

I didn't really do anything to celebrate paying off the graduate student loans, even though they were $550/month. Just not having to send that money out each month seemed like enough. But I also paid them off 4.5 years after graduating. I still have my undergrad SLs, 13.5 years after graduating, and when those things are gone, you can bet there will be a celebration.

kittensaver - I totally get it. We used care credit (1 year SAC financing) to pay for the surgery that was supposed to save our Aussie's life. Instead it went septic and we lost him. There was a part of me that hated having that bill and not my dog, but I cried when I made the last payment because now I didn't even have that part of my Moree any more.

[The Captain]

My sister and I went out for dinner (my treat) for crab legs.

First time we ever had a whole order to ourselves (one order each).

[Malarky]

It was a huge relief to pay off DH's loans.  He went back to school after a layoff.  We had two small children and I was out on workman's comp.  Those were the days when buying a pizza just wasn't in the budget.

Fast forward a few years.  I don't remember exactly when we paid them off, but it was at least six years ago. 

Two years ago we got a check from Sallie Mae because we overpaid.  $2.41.  Yes, two dollars and forty one cents. 

Four years later someone got paid to calculate that we needed a check for $2.41.  I find this so annoying that I never cashed the check. 

[Cookies Galore]

Oct 10, 2013 13:06:34 GMT -5 The Captain said:

My sister and I went out for dinner (my treat) for crab legs.

First time we ever had a whole order to ourselves (one order each).

I didn't know you were on food stamps! :-P

[bookkeeper]

DH had $15,000 of student debt when he graduated in 1982.  Money was very tight those first few years because he had 3 different types of loans that all had their own payment schedules.  Once we were down to just the big loan, the monthly payment was $71.07.  That loan had a 10 year payback schedule.  We never paid ahead.  When the paid off letter came in the mail, we had 2 kids and hung the letter on the refrigerator next to their artwork.  I left it there for a month.  I was very proud that we paid it off, and never once was late with a payment.

We too paid with a coupon book that we mailed off.  Each year you would get a new one in the mail. 

[haapai]

When I paid off my Perkins loan, I'd been broke for a long time.  Not having to make that (tiny) payment each month meant that I could survive a setback three times larger than what would have sunk me before. 

I didn't spend a dime but there was a feeling of tiny bubbles being released in my spine and I spent most of the day yammering about default risk. 

I doubt that paying off my Stafford will be anything like that.  

[kittensaver]

Oct 10, 2013 13:04:12 GMT -5 shanendoah said:

I didn't really do anything to celebrate paying off the graduate student loans, even though they were $550/month. Just not having to send that money out each month seemed like enough. But I also paid them off 4.5 years after graduating. I still have my undergrad SLs, 13.5 years after graduating, and when those things are gone, you can bet there will be a celebration.

kittensaver - I totally get it. We used care credit (1 year SAC financing) to pay for the surgery that was supposed to save our Aussie's life. Instead it went septic and we lost him. There was a part of me that hated having that bill and not my dog, but I cried when I made the last payment because now I didn't even have that part of my Moree any more.

Awwww!

[jeffreymo]

We paid mine off 4 years ago, and didn't celebrate.  My wife's will be done next year.  Our oldest starts school next year, so we will celebrate the loan payoff (and a few other debts falling off the books) by paying for parochial school.

[wewillsee]

I'm sure I will when they are done. At the highest point they were about $110,000. Still a while before they are all gone.

[Knee Deep in Water Chloe]

We've still got years to go. 

[Pants]

I'll let you know in approximately $89,000.