loan payments

loan payments

5 Ways to Pay Off Your Student Loans Faster

Newly-minted graduates are probably on cloud nine after they finish college. That is, until they receive their very first payment voucher for their loans. I remember the day when I picked up that dreadful Sallie Mae envelop from the mail box. I immediately did the math. If I paid the requested amount every month, it would take 12 years to pay off my loan.

I had no intention of making payments for over a decade, so I devised a plan that would have them paid off in half the time.

Here areĀ five tips that will vanish your debt in no time:

Live like you did in college: Chances are, you lived on next to nothing in college. Keep that same mentality for the next year or so. When you find that your disposable income increases, you can put that money towards your monthly payment.

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