Each year defaulted borrowers ask for forgiveness on a portion of their accumulated loan balance because they cannot repay what they owe. This forgiveness is often granted. Who pays for this forgiveness you may ask, the taxpayers which is why people take such an interest in how the loan you sign for is applied.
So just to be clear you paid off nothing. Basically, you transfered the debt and postponed when they will be due. Ultimately, you signed the contract and it is your decision how to spend it. Keep in mind in 10-20 years you may be of the same opinion when you hear new students are buy luxury condos with their student loans. I'm sure you have good intentions to be a responsible borrower but things happen. You don't know what life brings through the years. Why add to that burden now.1s1k52 wrote: Kudos to you! I didn't realize I needed a lesson on "Finances 101". Considered me schooled. I didn't realize I was the only person to borrow money with an interest rate and ONLY spend it on school. Should I inform you guys that I paid my car off almost 2 years early with my loans as well as clear out other bills? That wasn't school related though so maybe that is another thing to look down your nose at me for.