Welcome!


This is the story of life's financial struggles & victories through the eyes of a young woman up to her eyes in debt. Enjoy :)

Find me on Twitter! @OhStudentLoans

Saturday, July 2, 2016

I Was Featured on CNN Money!


"4 Steps to Paying off Your Student Loans,
from Someone Who Crushed $100,000"

After connecting on Twitter, a CNN Money reporter reached out to me via email and asked for an interview. At first I thought the email must have been spam. It wasn't. So of course I said yes.

The phone conversations and emails that transpired woke me up to just how much I have paid off. Not that it didn't sink in before, but saying my financial story aloud from the very beginning to present day was quite the humbling experience.

I started this blog in 2010 and was so... ashamed isn't the correct word... sad. Sad about the amount of debt I had and therefor did not want anyone to know my feelings about it. After all, many of my friends had the same situation going on, but for whatever reason, no one spoke up about it other than the occasional griping over hefty monthly payments. I needed an outlet. So I created this blog. I had no idea that 6 years later it would land me on the front page of the personal finance section of CNN Money. But I am glad it did. Now that I am out of the woods, I am okay with everyone knowing this blog, and all of these words, are mine. The encouragement I received after the article published was simply unexpected and overwhelming.

I do not have a business set up where I charge people for financial advice. The article does not lead you to a website where a company I created can help you. It leads you here, to this blog; it is simply my story. And Katie Lobosco, the reporter, broke all of my ramblings into 4 simple steps. Those simple steps are what got me to where I am, and I hope that others can follow suit from that. I have spent several hours with several different friends in the last 2-3 years quietly helping them create their debt pay-off plans and budgets. I have no idea what the future holds for me, career wise. It could be staying in corporate sales, singing/songwriting, music business, or it could be becoming a CFP and starting my own company; I just don't know yet. All of that to say, right now I am simply focused on the next 5 months of getting these loans out of my present day life.

If you would like to give it a read, you can find the article here.



14 comments:

  1. Congratulations, Jessica for getting featured on CNN Money. Paying off student loan debt is not as easy as we think so. It’s a good news that you will be debt free in just five months. It’s an inspiring article for all those who are in student loan debt and looking for some student loan forgiveness programs to get rid of the same.

    ReplyDelete
    Replies
    1. Thanks so much for the kind words, John!

      Delete
  2. Congratulations on the killer story, Jessica! Sounds like we have a bunch of stuff in common -- moving to Nashville for music and then quitting the music business. Haha. I'm actually taking online CFP classes through Boston University now. We should grab coffee sometime! :)

    ReplyDelete
    Replies
    1. Hi Kate! I just read through your blog a little and we do indeed have quite the similarities! I would love to grab coffee sometime. I'll shoot you an email :)

      Delete
  3. How did you get your loans down to 2.85% interest

    ReplyDelete
    Replies
    1. I refinanced through Citizens Bank!

      Delete
  4. I commend your fervor in paying off your loans, but please max out your employer contribution ASAP! The article says your employer will match up to 6%, but you only contribute 1%. The employer match is a 100% return on your money, while repaying your student loan is only a 2.85% return (the interest rate that you save by paying it off). Essentially, for each dollar that goes to your student loans instead of your retirement, you are choosing a 2.85% return over a 100% return. Hit the 6% max ASAP, even if you end up taking a little more time to pay off the loans. There is no reason to wait on that.

    ReplyDelete
  5. Jessica, you are so inspirational and I have tried to impress this ethic upon my children. However, in today's culture everyone is taught instant gratification which is the problem on so many levels! You may be crazy, but it's crazy like a fox!

    ReplyDelete
  6. What company did you use to consolidate to 2.5%?

    ReplyDelete
  7. Reading through your posts, I can totally see you been a CFP, I don't know anything about it really or how you might become one, or what the prospects are (I'm in the UK,I'm not sure how it works here or in the US), but you having gone through this, you would deeply understand clients, the sacrifices needed, and the feeling like envy of peers! Something which would put you at an advantage to others.

    ReplyDelete
    Replies
    1. Thank you for the vote of confidence! It is something I have indeed looked into, BUT there are tons of aspects surrounding taxes that quite simply put, I don't care to do for the rest of my life. I am sure I will have to learn the ins and outs of them at some point, but as for becoming a CFP, that is what stops me. Thanks for reaching out!

      Delete