how to pay off student loan debt

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9 ways to pay off your student loans fastMake additional payments. If you can afford it,make larger payments to cut the principal more quickly and reduce the total payoff time.Establish a college repayment fund. If you鈥檙e not sure how much more you can devote to your student loans every month,set up automatic transfers to a separate savings …Start early with a part-time job in college. …More items…

People also ask

  • How do I pay off my student loans?

  • Pay off student loans with the debt snowball. The debt snowball method has helped a ton of people dump their debt, and it can work for student loans too. First, list all your loan debts (private loans, secured loans, unsecured loans鈥攜ou name it) from smallest balance to largest.

  • How can I destroy my student loan debt?

  • Don鈥檛 bank on student loan forgiveness. Refinance student loans鈥攊f it makes sense. Stay motivated and you鈥檒l destroy your student loan debt ASAP! 1. Get on a budget. Y鈥檃ll, this one is a game changer. If you鈥檙e not already doing this, now鈥檚 the time to make a budget and stick to it.

  • Do you need to drag out your student loan payments?

  • There鈥檚 no need to drag out your student loan payments for the next five, 10 or even 20 years. When your money doesn鈥檛 have Sallie Mae鈥檚 name on it every month, you can do so much more with it. Just think about how many Beefy Fritos Burritos that freed up money could buy!

  • What happens if I pay my student loans every two weeks?

  • Most people only pay their student loans once a month. But if you pay your student loans every two weeks, you鈥檒l end up making an extra payment over the course of the year. Here鈥檚 how it works: Say you divide your monthly student loan payment by two and pay that amount every two weeks.

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