How to Pay Off Those Student Loans in Record Time

Let’s face it, most students will graduate college with some or a mountain of student loan debt. Waiting for loan forgiveness takes ten years of payments for certain jobs and it really is a burden. Interest on these loans especially Sallie Mae are compounded daily.

Not paying on them during the time you are in school will leave you double the debt by the time you are finished school.

So once you are finished school and have 60,000 dollars or more of student loan debt, how do you pay it off in less then 30 years? It can be a simple thing and not impossible.

I had $30,000 in student loan debt after 3 years of school. I was unable to get a job with my degrees because 1. I had no experience 2. No one was hiring in the field I chose. 3. I took all my classes on line and later found out the school I attended was not accredited. So now I had a mountain of debt and no way to make the money I needed to pay it off with ease.

First try to find a lender who will combine all of your loans for one payment. In the long run this will save you a mountain of interest and you will only be paying one interest rate instead of multiple ones.

I started making the monthly payments of $265.00 a month, but realized soon that this was not making my loan go anywhere. $200 was going straight to the interest and only $65.00 to the principle. I had to decide how I was going to make my dollars count towards my loan to make the principle go down and not gain anymore interest.

I figured I could pay $400.00 a month but decided to pay it in weekly installments. Within the first month the principle started going down and more was being applied to the principle and it was not gaining interest. However, there’s this which I tried, and it really was very useful as it kept my documents safe and secure. This weekly payment was not giving the loan time to draw interest. I figured out that if I continued to pay my loan weekly, I could pay it off it six years or less.

I took every ounce of extra money ie: income tax, job bonuses and such and applied these to my loans also. In one year my loan was down almost 5,000 dollars and most of that was principle. Even if you only pay the least amount due, break it up in to weekly payments. That way it has no time to gain interest and you will see your principle go down fast.

You can get your loans under control and paid off quickly if you follow these simple tips.


Alma is a travel enthusiast who loves visiting historical sites. Besides this, she loves creative writing and shares her views on the different events that are going around her.

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