The title is the challenge, now the question is, can we do it? Realistically it is 13 months from now if bankrate.com is right on the debt pay down calculator. (I love this calculator). My major driving force is that the largest sum loan is 6.375% interest. I no longer want to be paying over $100 a month in interest to this company. Some of the reasons why I think we can do this are: we were already snowballing debt; we have a FSA for the kids’ daycare and have put that straight towards the loans; and summer has brought extra money because we don’t pay (as much) for daycare and my husband teaches summer school. We do plan to put all of our taxes towards the debt and my birthday present next year will be to pay off the highest percentage loan.
Do you think we can do it?
