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How To Pay Student Loans Off – 6 Methods

September 1, 2011

Pay Student Loans

If you have just finished college and are looking for some insanely fast ways to get your debt cleared, we have just what you need, in the form of 6 different pay student loans off methods that you can use to eliminate your debt way faster than the normal rate so you can be debt free and not have to worry about student loans every again. By using thes pay student loans off methods, you will be able to bank all of the money you make, or spend it on the good stuff instead of forking it over to lenders for years and years.

Pay Student Loans

Pay Student Loans Off With These 6 Methods

  1. Start Saving For Retirement – This may sound weird and totally irrelevant but it is far from it. When one saves for retirement, the funds you put away are considered to be a tax write off. Meaning the more you put away, the better tax refunds you will get. If you do choose so, you can pay student loans off with the retirement funds that you saved as well. This can be a very powerful method that you can apply each year, giving you large sums of money to drop on your loan debt.
  2. Ask Your Employer – This may seem like a terrible idea at first, but it has worked countless times. Basically with this method of paying student loans off, you can ask your employer if they can either help you pay off your student loan or pay it  off completely, either by agreeing to stay with the company for a certain amount of time, as well as substituting some of your pay raises for a while to go towards your loans. Companies like this as they would rather keep a good employee instead of hiring a new one which is expensive. You can also try and negotiate your job offer, even a couple of thousand dollars extra per year. By explaining your motives of the boost to your potential employer, they will often time lend a help hand in the form of higher annual pay.
  3. Keep Livign Like A Student – You can pay student loans off a lot faster if you keep living like you did when you were as student. This includes continuing to bargain shop, avoid the shiny object symdrome, and flat out be cheap for a while. The money you save with this method can go towards paying off your loan. Althouh don’t forget to splurge sometimes because going cold turkey is never easy.
  4. Student Loan Repayment Programs – This option to pay student loans off consists of either working community service jobs through organizations like Americorps, VISTA and Peace Corps where each year they either pay off a percentage of your entire student loan, usually around 15 percent, or give your a large lump payment at the end of the year of service, in the thousands, which can be used for your debt. Other student loan repayment programs are found in public service jobs as well as jobs in areas of low income, where you can get most of all of your debt forgiven. To find out how you can pay student loans off with forgiveness, contact your lender who will have the most up to date information.
  5. Pick The Shortest Repayment Period – Picking the shortest repayment period will allow you to pay student loans off much quicker. Although the payment will be higher than longer repayment periods, you will both save money on interest as well as monthly payments and be out of debt years before a longer repayment program.
  6. Get A Roomate – By getting a roomate, or renting a room from somebody, this can result in your saving hundreds or even thousands a month. You can pay student loans debt off with this method alone years ahead of planned.

Pay Student Loans Conclusion

Now that you know some of the great and fastest ways to pay student loans off fast, you can now take advnatage of one or all of them which will ebable you to pay student loans debt off faster than you may have ever thought. Millions of indviduals of used these methods to pay student loans debt off quickly and you can do so as well, giving you the peace of mind that a debt free life brings.

 

 

Pay Student Loan Debt Fast – 7 Ways To Do So

August 31, 2011

Pay Student Loan

If you are searching for the pay student loan subject, good chances are that you have just graduated college, which a big congrats is in order! But even better chances are that you want to pay you student loans off fast and not be stuck with them forever, which we don’t blame you at all. To assist you in your persuit to crush these evil things into nothing, we have comprised as list of 7 different methods you can use to pay student loan debt off quicker than the average person, and can be utilized as soon as you choose to.

Pay Student Loan

Pay Student Loan – 7 Methods To Use

  1. The first one which you probably heard about when it comes to the pay student loan debt faster is student loan forgiveness program. You can use the Federal Student Loan Repayement Program for federal student loans and pays student loan debt which pays off up to 10,000 dollars a year on your loans for up to 60,000 dollars. You can provide community service with organizations like the Americorps, Peace Corps and VISTA. These programs will either pay a percentage of your student loan off each year you work for them, which is usually around 15 percent, or provide you with a lump payment at the end of a years service which is in the thousands, around 5000 to 8000 that you can use to pay off you student loan or loans.
  2. This next one is one of the best kept secrets and that is to ask your employer to help you pay off your student loans. This pay student loan debt option can be done by agreeing to provide your best services and that you will stay with the company for a certain amount of years. They do this because it is very expensive to hire new workers and if they know you will stay there by paying your student loan, they consider this a success.
  3. Being that you have just finished college, you are used to living like a student. A great resource to use when setting out to pay student loan fees off is to keep living like a student. Be cheap, avoid the shiny objects, and bargain shop. By doing this you will save money and can use this money to make larger monthly payments which will equate to shorter loan terms and you paying a lot less in interest.
  4. Another way to pay student loan sums off quicker is to pick the shortest repayment program that you lender offers. They advertise longer repayment periods because they know you will pay a lot more in interest. Although the monthly payments will be higher than a longer payment term, it will allow you to get out of debt in a year total that is years or decades shorter.
  5. Negotiating your first job offer is another way you can pay student loan sums off. If you can either hold out for a higher paying job, or convince the hirer that you are worth more money than they are offering, this can mean a couple thousand dollars extra a year which can go right to paying your student loans off.
  6. Starting to save for retirement can bring you a quicker debt free exsitance. When one saves for retirement, the funds are seen as tax deductable. As soon as you get this deduction payment, you can drop it on your loans as well as take the retirement funds out and use it to pay off student loan debt. Killing one bird, you student debt, with two stones. This pay student loan method should be utilized by everyone.
  7. Making a monthly and even yearly budget for that matter can show you where you are spending your money. By having this overview you will be able to see where you are spending money on things you don’t need, eliminate that spending and take the money you saved and use it to pay off student loan debt.

Pay Student Loan – Conlclusion

By utilizing these pay student loan methods, you can knock out your student loans in no time instead of have them follow you around forever. These methods have helped millions of people with loans of high 5 and 6 figures get their student loans paid off in half the time or a lot less than they would have ever though they could. Hopefully these pay student loan debt fast methods were exactly what you were looking for as well as needed to attain your goal of paying off student loans for good.

How To Pay Off Student Loans FAST – 9 Methods

August 26, 2011

How To Pay Off Student Loans Fast

If you are looking for how to pay off student loans methods that will enable you to get your debt wiped clean way faster than normal, we’ve go you covered. Below will be 7 different methods that all show you how to pay off student loans faster than you every may have thought possible.

Pay Off Student Loans

How To Pay Off Student Loans – 7 ways

  1. The first way that we will suggest when it  comes to how to pay off student loans fast is to keep living like you are in college. Budget shopping has been done by all of us in college and is a great way to save money, a lot more than when you were in college because now you have a monthly check coming in from you job, allowing you to live like a student but earn career income.
  2. With many loan options out there, there the grace period as you might know, which allows you a 6 month timeframe where you don’t have to pay. Do not wait until the 6 month timeframe is up. Right when you are done with college, start paying your student loan payments from day one.
  3. If you can, pay more than the minimum. Student loan debt programs, or any debt programs for that matter, want to keep you around for as long as they can by giving low monthly payments, but you end up paying a lot more in interest. If you can double up, or even add an extra 30 dollars each month, you will be able to pay off student loans faster. While were on the subject, you should try to pick the shortest repayment plan available.
  4. Another remedy to your how to pay off student loans quicker is to negotiate your the offer you get on your first job. Also, you should wait it out, if possible and not hop on the first job you get, try to find one that pays a little more, say 1500 more, so then you can pay off your debt with that extra 1500.
  5. Another way when it comes to the subject of how to pay off student loans a lot faster is to start saving for retirement. I know it may sound strange but saving for retirement while you have student debt does more than just help set you up financially when you hang it up, it actually provides you tax benefits. If you enroll in what is called a Registered Retirement Savings Plan (RRSP) you will pay less tax. Also, you can always decide to take out what you saved in retirement as one large last payment to finish off your debt completely. So this method can be very powerful.
  6. Another way when askign how to pay off student loans faster is: Do not let instant gratification hinder your from paying off your debt. In other try to avoid the “shiny object” plague until after your student debt is paid off. Although you have to treat yourself sometimes. kind of like a diet eating 6 days health and eating up on the 7th day, but try to stay as disciplined as you can.
  7. There is also the option of loan forgiveness programs where you can get a big part of your debt wiped out by working jobs that allow this option through your loan lender. The best thing to do for this option is to ask about it through your loan lender.
  8. You can also consider conolidating your loans as this has proved to be a money saver.
  9. Another way when it comes to how to pay off student loans faster methods is to use a student repayment calculator which will really put it into perspective on how long it will take out at the rate you are paying now, as well as showing your how much time and money you can save by paying a higher payment.

How To Pay off Student Loans – Conclusion

Now you know some of the best methods when it comes to your question how to pay off student loans fast. These ways have enabled many students to pay off their student loans in a one figure time frame instead of two figure time frame. Hopefully this methods will do the same for you!