Credit and Debt Archives - Page 9 of 10 - The Outlier Model

Paying off $27,000 in student loans

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CF / November 5th, 2012 / 54 Comments

It’s actually better than it seems, from the title. I started with $35,000 in student loans when I first graduated in 2007. And I actually took out over $40,000 in loans. I was fortunate that several thousand was forgiven as part of several grants that I received! I made payments for a few years, and then did my second degree, during which time my student loan payments were halted. I...

Getting a line of credit increase

line of credit increase, credit limit, interest rate, credit card,lifestyle inflation, avoiding expenses, free credit report, check your credit score

CF / August 10th, 2012 / 18 Comments

Here’s a Friday quickie. I think I could have also titled this post – “It doesn’t hurt to ask!” Original photo by Images of Money (http://www.flickr.com/photos/59937401@N07/) There is not much to tell – I’ve been with the lovely and ever helpful Bank of Montreal for ages upon ages. I’ve always found them super helpful, friendly and personable....

Posted in: Credit and Debt, Money Tagged with: avoid interest, Bank service, credit increase, line of credit

Student loans paid off!

Student loans, student loan paid off, debt free, financial freedom

Brian / March 8th, 2012 / 3 Comments

Last month I reached a major milestone towards financial independence – I paid off my Student Loan! I graduated in April of 2008, so all in all, I took 3 years and 10 months to pay back $13,000 to the government. Had my friends at the National Student Loan Service Centre had their way, it would have been over 8 years before I had repaid my loan in full and I would have paid much more in interest...

Posted in: Credit and Debt, Money Tagged with: debt repayment vs. investing, debt snowball, debt vs. investing, student loans

Paying off my student loans

student loans, paying off student loans, debt freedom, paying off debt

Brian / June 3rd, 2011 / No Comments

According to Statistics Canada, over half of Canadian students graduate from post secondary education with an outstanding government student loan. As you know, CF graduated with a large student loan, while I owed less to the government but more to my parents. On average, we had as much debt as everyone else. Not very appetizing for a couple who prides themselves on being different! Photo Credit:...

Posted in: Credit and Debt, Money Tagged with: compound interest, debt reduction, debt snowball, paying off debt, provincial loan vs. federal loan, sacrifices, student loans