Proverbs 22:7 “The rich rules over the poor, and the borrower becomes the lender’s slave.”
Yesterday was a huge day for us! After submitting one last payment of $1,200 our student loans are completely paid off, and we have no debt, except our house!
It’s been a year and a half since we decided to aggressively pay off our student loans. Our goal was to have it done in about 10 months, and we adjusted our budget and cut A LOT out of it, but there have been lots of financial bumps in the road, so even though it’s later than we planned and hoped, we made it!
God’s provision through all of this has been amazing. Even as expense after expense arose, we always had enough to cover them! We have learned so much about money and being good stewards of what God has entrusted to us. And we have learned a lot about trusting God’s plan when our plans aren’t going as expected.
While I look forward to the day that our house is paid off and we are truly debt free, it feels great to be done with our student loans. I truly believe that having debt makes you a slave to the one you owe. Until the balance you owe is zero, is anything you have really yours?
I believe that God desires freedom for His people in every area of their lives, including finances, and the Bible gives us great advice on how we are to manage our money in ways that honor God.
If I could do it over again, I would have taken longer to get through school and paid cash for all of it. I think education is important, but student loans don’t actually make it affordable – they makes us slaves. I don’t recommend anyone take out student loans.