She Strengthens

From Struggle to Success: How I Paid Off My Student Loans in Just Five Months

As a teenager, I faced a daunting reality: becoming a single mother at 15. My parents couldn’t afford to fund my education, and my low GPA made scholarships a distant dream. Yet, I was determined to secure a better future for my son and myself.

A Steady Start

I began my higher education journey at a local community college, pursuing an Associate of Arts in business administration. With each course costing $425, I needed to complete 20 courses, totaling $8,500. Initially, I qualified for financial aid, but a brief setback in world history led to a semester off to refocus.

Recommitting to My Goals

I returned to college, more determined than ever. I worked full-time to pay for my courses, prioritizing my education above all else. During those four years, I moved four times, sacrificing comfort for the sake of saving money. My sacrifices paid off, as I graduated debt-free with my associate degree.

The Next Step

With my associate degree in hand, I set my sights on a bachelor’s degree. A higher-paying job and yearly bonus enabled me to afford the increased course fees of over $2,000 per course. I took out two loans totaling $8,000, but continued to prioritize my education expenses. A surprise voluntary pension from my previous job helped cover four summer courses, and a $5,000 scholarship in 2017 further eased my financial burden.

Staying on Track

Throughout my journey, I made monthly payments of $250 towards my student loans, even while still in school. By communicating openly with my bank, I was able to navigate occasional late payments. In 2018, I created a budget spreadsheet, tracking my expenses and staying committed to my financial plan.

The Final Push

In 2018, I focused on completing my remaining four courses, taking two in spring and two in summer. With my final payment made in March 2019, I became debt-free, graduating with distinction just months later. The journey was long and arduous, but the sense of accomplishment I felt made every sacrifice worthwhile.

A New Chapter

Today, I’m a Purchasing and Sales assistant based in Bermuda, passionate about inspiring others through my writing and personal finance expertise. My story serves as a testament to the power of perseverance, financial planning, and prioritizing one’s goals.