$15/month

Over my lunch break I was checking the status of my student loans. With interest rates fluctuating so much, a greater percentage of my debt repayment has been going to the principal amount. I started playing with the calculators offered on the sites (Edulink & NSLCS) for my Canadian and Alberta student loans.

Since my loans went into repayment status I have left the amounts at their defaulted payment schedule which was:

Edulink: $65.87/month
NSLCS: $69.12/month

I've known that small amounts can make big changes - but this actually surprised me. I have changed my repayment amounts to $75/month for each loan. This increase goes into effect for my June payment and is an effective increase of $15.01.

• This has shorted my repayment schedule by 28 months!

Through this change. I will pay off my Edulink loan 21 months sooner and my NSLCS loan 7 months sooner then previously scheduled!

• 28 months is 2.3 years

I will continue to make changes and put more money towards these loans as it becomes available through cutting expenses, and paying off other debt - but I feel really good about these changes.

I will be revising/updating my budget for June in the next week and posting the changes as well as posting my goal updates.