What there is to know
- New York reporter Mandy Velez celebrated $ 102,000 student loan payment with funeral photoshoot
- She says she was able to pay off the balance in just six years doing everything from skipping brunch to picking up odd jobs
- She says she plans to use her newfound financial freedom to take a trip and save for a house
Mandy Velez, a journalist from Daily Beast took to Instagram to celebrate the death of her student loans with a funeral for the balance of $ 102,000 that she was able to repay after only six years.
“I finally killed them. It was a slow death but worth every part of the fight, ”she wrote on Instagram.
Velez graduated in 2013 with about $ 75,000 in student loans and paid more than the minimum per month, for a total of $ 1,000 per month. She wanted to be debt free by the age of 30, so she cut her budget and lived on less than a third of her monthly salary.
She even skimped on the little things – like making her own breakfasts, not calling Ubers, and swapping brunches and dates for walks in the park – that really helped her save money.
She also took odd jobs, including walking her dog, babysitting, and even appearing on extra TV shows for extra money, to help her survive, pay off loans, and live in New York. York without ever missing a payment. She hit her goal 2 years ahead of schedule, killing $ 32,000 in eight months.
“I’m celebrating my freedom, but I don’t think we student borrowers deserve the hardships that come with these loans: high interest rates, sketchy providers, annual tuition hikes, the list goes on,” a- she writes.
Velez hopes his story gets people to say “no more” in the best possible way. She was shocked and delighted to know that her story attracted so much attention to others as to her position.
“It felt good to know that people were proud of what I did besides being excited. Now it’s got bigger than I imagined. I think that resonated with a lot of people, ”she said.
“I feel overwhelmed, but grateful. I understand how difficult it is to accomplish something like this and I’m glad I had the support in place to make it happen.
After six long years, Velez is looking to celebrate his newfound financial freedom. She feels like she has changed her life by no longer “paying” for a better future. She hopes people will be inspired and if they are in this situation, if they can pay more than the minimum. Otherwise, “just do your best. You’re not alone.”
Currently, Velez is saving for a down payment on a home and a much-needed vacation.
We won’t miss RIP Mandy’s student loans.