Consolidating graduate loans over 40 000
Although paying as little as per month helps speed things up, if you want to get out of debt fast, you need to make larger payments.
Find a way to make extra money by freelancing, getting a part-time job, increasing your hours at work or picking up odd jobs such as petsitting, babysitting, working as a consultant, or coaching or tutoring high school students.
Once you’re done paying off this debt, the options you have to help you invest in your future become much more flexible.
Following a few simple ideas can help you get out from under your student debt quickly and efficiently.
Before you can tackle your student loans, you need to face them head-on.
Visit your student loan servicer’s website for each of your loans to note the principal amounts remaining on your loans along with the interest rates.
Rising college costs coupled with a challenging job market have left many graduates feeling like they’re suffocating under a mound of student loan debt.
The consolidation loan may come with a longer repayment term that your original loans, but with a fixed interest rate.
When it comes to finding the right way to paying off your student loans, there’s no single solution; what works for one person might not work for you.
To make a dramatic difference, you may need to use more than one strategy.
While you’re at it, grab a copy of your credit report to take a hard look at your total debts, including your credit cards and any other loans.
Note your credit score and any mistakes that you need to report to the credit bureaus.