For the past month, we have been running the Student Loan Sherpa Scholarship. The purpose of the scholarship was twofold. First, it was to give one or two people a little bit of extra money to help with their student loan payments. The second goal was to generate some conversation on our student loan forums.
To be honest, the turnout was fairly week, and it appears we have some work to do in order to create a thriving community in the discussion forums. However, we will still be honoring our commitment to the people who did participate. With that in mind lets jump right to our nominees.
Category 1: The most deserving person
When voting choose the person who you think most deserves $50 to go towards their student loans. The nominees in this category each shared a little, or in some cases a lot, about their individual student loan stories.
Nominee #1: Dwurl
Dwurl shared his story about how he and his wife racked up nearly $400,000 in student loans and how they try and stay above water while paying about 28k per year in interest alone.
Nominee #2: side_hustle_sally
Side_hustle_sally share her story about the many odd jobs she did to slash her student debt from 48k to a more manageable 22k.
Nominee #3: NitashaS
NitashaS shared her perspective as a student loan borrower and financial aid office worker. She shared her frustration about the fact that she has already paid off over 2/3 of her student loan debt, but it feels like the last 15k will never go away.
Category 2: The Most Helpful Person
Voters should pick the person who they feel added the most to the student loan discussion for the past month. Consider your vote as a way of saying thanks to the person who offered the best insights and advice. The winner in this category will also receive $50.
This month side_hustle_sally had great tips for being frugal without sacrificing your social life. She also shared a calculator that shows the benefits of making payments larger than the minimum.
Nominee #2: NitashaS
NitashaS has great firsthand advice from her time in the financial aid office. Only borrow what you need!
Nominee #3: gedit
gedit had a great question regarding the pros and cons of private student loan consolidation of federal loans. This discussion ended up covering current proposals in Congress and ways to get involved in the movement to change student loan laws.
Nominee #4: Dwurl
Dwurl may currently be sitting on a bunch of student loan debt, but he shared some of his tips on getting a mortgage despite the mountain of debt.
Nominee #5: dka1384
dka1384 had a great question about getting private student loans without a cosigner. Due to some bugs with the forum software, the post wasn’t viable until today, but it definitely qualifies as a great question and hopefully the answer is helpful.