I graduated with a massive $107,500 in student loan debt. I was initially planning to pursue the Public Service Loan Forgiveness (PSLF) program. However, my plan backfired and I decided to aggressively pay off my loans as soon as possible.

Within 2 years into the start of my repayment, the total amount paid back was over $115,000 in principal and accrued interest. I worked 56 – 64 hour weeks and managed to allocate 75-90% of my monthly income towards these loans, but it could not have been done without a personal loan from my wife and my mom.

As I was no longer paying hundreds of dollars in interest per month, my high savings rate allowed me to not only pay my wife back relatively quickly. I only have one remaining debt left and that is a $30,000 personal loan from Mama Flexcents.

For the complete breakdown of how I paid off over $100K within 2 years, click here.

Strategy to Paying Back Mama Flexcents

I quickly found out that my mom had a difficult time accepting any cash or check. I eventually concluded the most effective method for me to pay her back was to fund her retirement. I opened a Traditional IRA for her which I am maxing out at $6,500 per year.

She is very conservative, so this strategy provides her the opportunity to build a larger nest egg without taking risk as I will continue to fund her account until its value and associated tax refunds reach $30,000.

My Progress To Becoming Debt Free Updated 9/23/2018

Personal Loan Debt: $30,000

Current Progress: IRA Value + Tax Refunds = $15,851.34

December 2020 Goal: IRA Value + Tax Refunds = $30,000

Major Money Moments:

May 2011: Graduated with my bachelors of science in kinesiology with $9,500 of debt. Saved $10,000 working throughout high school and college. Decided not to pay off my subsidized loans and use the money I saved to survive in grad school.

May 2014: Graduated with my Doctorate in Physical Therapy with $107,500 in student loans when totaling principal and interest.

July 2014: Enrolled in the Public Service Student Loan Forgiveness (PSLF) program.

September 2014: Obtained my first PT gig, which was the best and worst thing that has happened to me.

December 2014: Entered Student Loan Repayment Under the PSLF program

July 2015: I finally proposed to my wife after being together for 10 years!

November 2015: Needed to leave my first job and decided to forget about student loan forgiveness.

December 2015: Transitioned from outpatient PT to working in a SNF. Began paying off my student loans as aggressively as possible.

October 2016: Paid off my $115,000 student loan balance with help of very generous personal loans from family and no longer owe the federal government money. I also got married!

February 2017: Began learning about investing leading me to contribute to my 401K and IRA. Experimented with robo-advisors and began using the free trading platform, Robinhood.

June 2017: Started a new job in home care PT. Paid my wife back $10,000, effectively reducing my personal debt from $40,000 to $30,000.

July 2017: Finally achieved a positive net worth in cash and investments! I highly recommend personal capital as a money management tool to track your net worth and much more! 

November 2017: My mom had difficulty accepting any money to pay her back, so I opened an IRA with her approval to fund the account until it reaches $30,000.

January 2018: Learned about the concept of financial independence and developed a plan to FI/RE by 40.

April 2018: The birth of Flexcents!



2 replies
  1. Kayla
    Kayla says:

    That’s such a cool and creative loan repayment deal you worked out with your mom! I’m sure she prefers accepting money from you in a less direct way, and it will earn her interest in the long run!

    • Mr. Flexcents
      Mr. Flexcents says:

      Hi Kayla, thanks for stopping by! Most definitely! We have also expanded this strategy to other investment accounts when I discovered she had a difficult time accepting money directly from my siblings. It becomes a win for everyone.


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