Tips To Paying Off Your Student Loans Faster

Collectively, millennials are in trillions of dollars of student loan debt. It’s not just something that taps on our shoulders every once in a while – it’s a serious problem when it comes to us getting our adult lives together. And the struggle is real enough already! Here’s how you can get a better handle on your student loans:

  • Make more than your minimum payments – Instead of putting your extra cash towards more happy hours, try paying off some of your student loan debt every now and then.
  • Split your payments in two – Make half of your payment on the 15thof every month and the other half at the end.
  • Sign up for autopay – Have your bank pay your student loans on its own so you don’t miss or forget payments.
  • Refinance – Take out a new loan with better interest rates and use that to pay off your old loans.
  • Work for a company that offers loan assistance – Some of the fancy jobs we get these days will actually help us with our student loans as a part of our benefits package.
  • Volunteer – Some nonprofits will offer student loan payments in exchange for volunteer hours.

And as terrible as it feels to be in mass amounts of student loan debt, there may be more urgent financial matters for you to take care of. Make sure you pay off your high-interest debt first - then worry about your student loans!

 

Source: Huffington Post

Todd Alan

Todd Alan

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