Ways To Kick the Ass of Student Loan Debt
Loathe student loan debt and all the evil it represents? Congratulations! You are super special and we are here to celebrate the unique perfection that is you, you trailblazing badass!
Not really. It turns out you’re just like the rest of us. I thought I’d make better use of everyone’s time by pointing out the practical words of wisdom in Jill Greenberg’s article: How to Combat Student Loan Debt.
[I]f you’re currently a student or will be soon, how can you ensure you don’t end up with enormous debt that you can’t pay off? Here are some things you can do to lighten your financial load:
Think about ways you can reduce the cost of your education. Being a part-time student can help you lower fees each semester and give you time to work while you are going to school. While it may take longer to complete your degree, you can reduce the total amount of your debt by paying for some of your education while attending school.
Talk to your employer to see if they can help with tuition. If your degree pertains to your current job, your employer may offer some type of tuition reimbursement or assistance, so check in with your boss or your HR department.
Don’t borrow more than your starting salary. Financial aid expert Mark Kantrowitz cautions that if you borrow more than that, you’ll have to repay your loans with an alternate repayment plan like extended repayment or income-based repayment instead of standard 10-year repayment and extend the payments even longer.
Consider a job in public service after school. With federal programs like the Public Service Loan Forgiveness Program, you may qualify for loan forgiveness after 10 years of paying on time. In addition, some universities will also offer similar types of programs. More…
Posted by Alexa Harrington
Great tips, I’m a student and I am trying to get a loan to finish my college degree. I think that this info will help me.