CNSL · 9 August 06
Last night I made my final payment on my Canadian National Student Loan! WOOHOO!
It was supposed to take another 5 years to pay off but at 8.5% interest I say – Hell no! I was paying $0.86 interest per day! Yes, a portion of the interest is tax deductable but still I feel good having paid the sucker off. Using my RSP as my tax cushion seems a lot more proactive and productive than throwing money into the Can-Learn folk’s pocket. I appreaciated them well when I needed them, but I am not at all sad to usher them out of my life!
So long student debt… now on to bigger and better debts!
18 August 06 – Update: I just found out yesterday that somehow my payment didn’t go through until the next day so with the daily interest being added I still owed $0.83 after my payment. After a week more of interest I owed $0.86 as of Aug 16. I made a payment of $0.90 last night. That should take care of it, even if the payment didn’t go through until today. Yeesh!
[ File under: Me & Irritants ]