Final Student Loan Payment

Few things are as gratifying as making the final payment on a loan.

Back when I started college at Baylor University (in 1986), I maxed out my student loans for the two years I attended this small private university.

In 1990 I joined the US Army, and my student loans were deferred during my enlistment. I started paying my loans back when I was discharged in 1993. I went back to school full-time in 1995 to finish my undergraduate degree, and once again, my loans were deferred until 1999.

This morning, 21 years after taking my first student loan, I dropped my final payment to the Department of Education into the mail box (my final check was for $13.86).

It’s the best investment I’ve ever made.

Thanks to Chapter 31 — Vocational Rehabilitation, the Montgomery G.I. Bill, and the Hazlewood Act, I’ve never had to (and will never have to) take out another student loan to finish or further my education, even if I decide to go on and get a PhD.