Best Way To Pay Off Student Loans
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Best Way To Pay Off Student Loans

Best Way To Pay Of Student Loans

We all know that after college getting a job isn't always the easiest task. As a matter of fact, on average it takes most graduates 6 months or more to find a good job with decent pay. On top of that most graduates that find a decent paying job within that allotted amount of time its usually not the one that wanted.

Let me give you a little background about myself….

I am currently as we speak a full-time college student, I am working on completing my Bachelors of Science Degree at Capella University Online. Going to college is a great choice to make, it's always a great choice to further your education but I wasn't exactly prepared “fully” for the expenses. Currently as we speak my student loan debt is about 25,000, yeah I know its pretty darn high.

Actually my student loan debt was higher more around 35,000 but I was able to pay off about 10,000 while I'm still in school, we talk about how I did it a little later. So you can see I'm slowly but surely paying of my student loan debt and will have it completely paid off before I graduate.

Facts About Student Loans

Did you know on average most college student has an outstanding debt of $24,000…?

There are actually borrowers than owe more than $50,000 or more. The truth is this system isn’t working as well as the government thinks it is. These student loan weight down graduates from pursuing that dream job they always wanted.

This is why most graduate aren’t happy at their current jobs but they have debt to pay, right? Most graduates have to work where they can until they get out from under their educational debt before they can go after new financial opportunities. But that not all….

College education is getting more and more expensive everyday. I honestly believe it going to come to a point where only a certain few individual will have the opportunities to go to college. Today in 2015, based on statics 38% of men go to college and 64% of women go to college.

Now this is the kicker, only about 15% of them can afford it…. This means every year more and more debt gets piled up on these students who only wanted to further their education. The more our country is in debt the worse our educational system and among other things will get.

So what can we do as individuals to pay off our debt?... I will tell you… Read on……

Five Fast Ways To Pay Off Student Loans

1. Treat your student loans like a mortgage, if you can. By doing this you pay larger payments which in turn reduces the principal balance quickly. This will lower interest rates thus decreasing your loan total. This is the most ideal way of paying of any loan but it's easier said then done. Am I right or wrong?

2. Create a Pay Off Plan – This is usually a 3-5-year plan, which you pay off your debt in a fraction of the time it would normally take you to pay off. It can take some people more than 15 years to pay of student loans. Using this method can get it paid off in less than 5 years.

3. Saving as a Student – Saving as much as you can and putting it into saving can help your student loan payoff exponentially. If you saved $100 or so every chance you got and don’t touch it until graduation. You can greatly decrease or even pay off you student loan debt. For instance, saving $100 per week (If you can) would save you $400 per month which is $4800 per year, right? If you multiply that by 4 years (Average degree length) that’s $19,200 on average. That can potentially be more than half or all your debt right there….

4. Working for your College – This is the most ideal way to pay off student loans. Most college have work-study programs where they will pay you a certain amount for a task. Most work study programs pay over min-wage, in my experience $12 per hour or more depending on the job. By working 6 hours or more during the day you can make enough to at least pay off the interest on your student loans and maybe some payment if you choose to pay them while attending school.

5. Go to the military – The military has a lot of incentives and programs that can help you pay off student loans as well as pay for college in general. I personally know people who went to the military to help pay for college and today they are debt free, this is a big choice to make but I thought I would mention it.

These are the fastest way I know to pay off student loans. I have tried most of these and they work for sometime but I found a solution that works for me, its probably not for everybody but it works for me. Let me explain…

My Solution To My Student Loan Debt….

As I said before I have tried some of the ways above to help me pay off my student loan debt while I'm still in school. I noticed it wasn't working for me as good as others because I have other bills as well. So I got online and looked for help and never looked back….

After about a month of searching I ran up on this website about job for college student online. It had a lot of information about making money online in different ways such as:

• Building a YouTube Channel

• Blogging

• Paid Surveys

• And many more.

But the one that stood out to me was Blogging. It stood out because I always have loved writing and I had no idea you could earn money online typing and that’s it. So I start doing research and found this video talking about this community of people who make money online blogging, it was called Wealthy Affiliate.

After doing my research because I was always a skeptic when it came to online opportunities I couldn't find anything really negative about it, so I decided to sign up for a free trial and give it shot. I be honest I have quit and came back to Wealthy Affiliate over 2 times and somehow I kept coming back.

The reason was there wasn't any other opportunities like this anywhere so I decided to stay the course and it panned out. Today I am making money online in numerous different way from blogging to affiliate marketing and freelancing. At this rate I'm going I will have all my student loan debt paid off before I graduate.

There is always a solution

There is always a solution you just can't give up looking, I will be debt free when I graduate in 2016. I love writing about this and telling people because you can change your situation with a little motivation and dedication in yourself to succeed. Then you can get out from under your debt and change your life.

I hope you choose the right path of pay of your student loans, don't settle strive to get out from under that burden so you can pursue your dream job after graduation. Most importantly believe in yourself and believe you can do it.


Street Talk

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