I repaid my $40,000 student loan debt in less than five years by following three golden rules I recommend to anyone

Most students leave college with debt, and that debt can be financially and emotionally crushing.She paid more than the amount that was due each month, whenever possible; she put any extra money from holiday gifts or side gigs toward the balance; and she made many trade-offs in her lifestyle in order to spend less.The day I received my first student loan bill, I cried on the couch next to my dad. It was just a few months after I'd graduated from my private liberal arts college.

Let's get the known facts out of the way: Most students leave college with debt, and that debt can be financially, as well as emotionally, crushing. Some will carry loads far less than mine, but too many will be burdened with undergraduate debt climbing towards $100,000. I was lucky enough to pay for school using a mishmash of merit scholarships, need-based grants, and loans.

We can now fast-forward to another quick fact: I paid off my debt within four years of my 2013 college. The moment I paid it off is one of my happiest memories, though it came without any fanfare. Just me sitting cross-legged on my futon, clicking a button and then shutting my laptop. Debt-free life, though, is an incredible feeling, and it is a privilege that allows me to feel more secure every single day.

You've probably read tons of articles about how to get rid of debt — I read them too. Now, when I'm talking to others about how to say"thank u, next" to the debt obligations in their lives, I start with these four surprising ways or"rules" for to look at their loans. They won't be the answer for everybody, but parts of each perspective helped me to tackle my own debt with ease.

Paying down debt rather than saving isn't the best advice for every individual, but I knew I would have time to

Why not pay minimum, wait, hope and pray a Democrat gets elected and forgives all student loans. How will that feel for the folks who paid their own loans.

PeroSeMeOlvida

Rule one: network enough, so you can get a good paying first professional job.

Education Education Latest News, Education Education Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

More student loan borrowers carry six-figure balancesThe average college graduate leaves school $30,000 in the red today, up from $10,000 in the 1990s. Yet the share of borrowers with balances in the six-figures is on the rise. But that masters in Accupuncture is sure to pay for itself..... Naturopathic and acupuncture put you 500k in debt?! LOL someone made money She is an outlier. Average person has $30,000 in student loans.
Source: CNBC - 🏆 12. / 72 Read more »