Short term goal #1

We have a lot of debt. The big number can be a little overwhelming. I think it's important to set little sub-goals along the way. So here's our first goal (it's a two-parter):

• Pay off all the outstanding interest on all the loans. (Right now there is about $1850 of interest that has been collecting on the unsubsidized loans. This will continue to accumulate, I believe to the tune of $1500 before the deadline.)
• Pay off the first loan completely. ($2,000 at 6.8%.) 

Deadline: November 31st, 2014. This is the date that the loans technically enter repayment. Wouldn't it be great to have the first loan paid off before a payment on it is even due?

What that means: $5350 in four months works out to about $1337.50/month. This seems perfectly doable to me. We have some extra savings we can use, but I think we can do it without using them. (I'm trying to keep these goals easy enough that they are meetable without being miserable. If it's ridiculously easy, the next goal will be harder.) Maybe we can even start chipping away at loan #2!