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Suggest ways to pay off student loans by 30

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I am 23 right now with a job. Fortunately, I have not received any pay cut. I am leading a frugal life too. My plan is to get pay off student loans by 30. Can you suggest a few ways to pay off student loans ?

Great plan, Honestly speaking, if you can get out of debt by 30, then you can think about starting a family after that. Here are a few tips you cab use to pay off student loans by 30:

Refinance your loan to lower your interest rates.
Make additional payments on your loan.
Get a side hustle to make extra payments
If you work in a government organization, then try to opt for a Public Service Loan Forgiveness Program

Sub: #1 posted on Wed, 06/17/2020 - 05:40

David Martin David Martin

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Hi Vanberg! Good to hear that you are planning to live a debt-free life soon! I would suggest you make some extra payments for your student loans every month! it will help you to get rid of your student loans faster. And guess what? You don't need to pay any prepayment penalties for neither federal nor private student loans!
Otherwise, you can opt for autopay. Federal student loan servicers and many private student loan lenders offer a quarter-point interest rate discount if you opt for autopay. So, if you calculate for your total repayment period, you can save a lot of money. And you can use that money for making extra payments for your student loans!

Sub: #2 posted on Thu, 06/18/2020 - 23:34

Craigh.terry Craigh.terry

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YOu are ging great. If the student loan is federal, then opt for the best repayment option they have. If it is private student loan, then you can consolidate it with a new loan. Make sure the new loan is with lower ineterst rate. Keeping following the frugal life to save sa much as required.

Sub: #3 posted on Fri, 06/19/2020 - 05:13

Sanders Patricia Sanders Patricia

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