I owe less than $1,000 on my graduate loans. A major hurdle has been crossed. Light at the end of the tunnel beckons! Once I pay off this loan, I only have one more to go. This year I paid over $2,000 in interest on my graduate loans and nearly $20,000 on the principal. In the very foreseeable future, I will no longer have to pay one cent to the federal government for my graduate education. Hallelujah! So let's all collectively pat me on the back :) I also encourage you to scrounge up a little for any extra payment you can make towards your loans. All of those little extra payments are what got me to the point where I can finally say "less than $1,000 to go!" On one loan, at least!