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the home stretch

The light at the end of the debt tunnel is beautiful and warm. Just in time for a well-deserved thaw, I will be credit-card debt-free.

With my income tax refund I paid off the line of credit. With the child tax credit I will put $200 on the credit card, bringing it down to $3000.

The good news is that I was asked to house-sit for three months!! Without having to pay rent (or bills) this spring and summer I will be able to pay the debt off in full, several months before my self-imposed deadline.

Then in the fall I can begin to pay my student loans. I am trying to come up with a strategy to get around the consolidation agreement that stretches out the payments over 14 years, doubling the amount borrowed.

So, that is my good news.

In other news I am grateful to have a little bit of savings into which I can tap to make a donation to MSF.

Seriously, Karissa


  1. Hey Karissa, to get around your student loan stuff you can start taking payments directly to the bank holding your loan. Or call the Student Loan center and ask the person on the other end how to accelerate your payments. A little known way to do so is to send them lump sum checks.

    When I paid mine off I went right to the center (it was very close to my home) and dropped a check off with the people there for the entire outstanding amount. It kills the interest payments really fast. You should call the center and ask how to do this - as you have to ask them to take it directly off the principle of the loan to reduce your interest paid. As long as you keep a copy of the check, and get a copy back from the bank, make notes of who you spoke to the date and time and their number you'll have all the paperwork in place to knock it out of the park early. There's an office in each province, and a few things you can do at the bank holding the loan as well.

  2. Saw your comment on my blog - they have a head office at Robert Speck Parkway in Mississauga - it's their main office.

    National Student Loans Service Centre (NSLSC)
    PO Box 4030
    Mississauga, ON L5A 4M4
    Within North America: 1-888-815-4514
    Outside North America: 800 2 225-2501 plus appropriate country code
    TTY: 1-888-815-4556

    I've been there to pay a lump sum towards my loan. They'll let you - call them and ask them about how to send it in and what you need to put with it. A letter stating your intent and the loan number you are making a payment against was what I needed.

    Good luck - it can be done!!


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