Paying back student loans has always been a challenge, but at a time when housing and meals eat up a bigger slice of income than ever, making smart choices around loans and repayment is all too critical.
“If you’re a doctor and you’re going to make a lot, it’s OK to get a bit more into debt, knowing you have more chance of repaying,” Kindarji said. “You can make a bit of interest on it and then have the money down the line to pay it back — kind of free money to invest,” said Kindarji. “That could mean being a bit more frugal with your money, that could be living with someone else or living back at home with parents … Think of a budget and then try to tackle the debt as quickly as possible.”
“The problem with that is there are government programs that allow you to repay your student loans,” he said, with banks being less forgiving.