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
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!
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.
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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
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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
(Posts: 273 | Credits: )
Sub: #3 posted on Fri, 06/19/2020 - 05:13
(Posts: 1239 | Credits: )