Just made my first of what will be MANY student loan payments.
Here’s a depressing thought:
If I keep making $100 payments every month, it’ll take me over 30 years to pay off all of my debt.
Here’s an even more depressing thought:
My first naive calculation lacked that little detail called interest.
Correction: If I continue to pay $100 a month, these payments won’t even cover interest so I will NEVER repay my debt and will actually accumulate even more.
Interest is a bitch.