myUsearch blog

Honest college information — choose, apply, get into and pay for college.
Subscribe

Paying Off Your Student Loans

July 21, 2014 By: Chad Category: Student loans

student loan

You may have graduated with honors from your college of choice and obtained a great-paying job but you’re not out of the woods yet. The specter of student loans can follow you for many years after graduation, costing you hundreds each month depending on the amount you borrowed. Nearly 75 percent of graduates owe at least $25,000 in student loan debt, according to US News and World Report. Even if you did get a great-paying job out of college, you may still struggle with this debt. If you’re still looking for a job to match your newly framed diploma, you will have an even harder time paying down your debt. Here we take a look at ways to pay off your student loans.

Budgeting
It’s best to start paying down your debt as soon as possible upon graduation and as fast as possible. You can do this by adding a little bit more each month to your stated loan amount, just like you would do a credit card to cover the interest rate. This is especially important to do if you’re planning on buying a house in the near future. If you’re feeling overwhelmed with all the student loans you have to juggle—many of you have several—make a budget each month using a spreadsheet or software to keep track of when each one is due and how much it is. Better yet, check out the federal government’s National Student Loan Data System, which allows you to create an account and manage all your loans in one convenient online location.

Debt Consolidation and Management Programs
Having a bit of trouble meeting your monthly payments? You may consider debt consolidation. When you consolidate all your debts, you’re essentially signing up for a brand new loan to pay off those debts, allowing you to obtain a lower interest rate in many cases and thus pay it off more quickly. However, obtaining lower payments doesn’t necessarily mean you’re saving any more cash. You could even be paying more in the long run because you’re stretching payments over several more months and racking up more interest. That being said, if you’re diligent and serious about reducing your student loan debt, pay off the loan quickly, within three years on average, and you won’t fall victim to those sky-high interest rates that will only sap more money from you over the years. You can also turn to debt management programs, which essentially allows a company to accept one total payment for you and distribute it among your creditors.
 
Loan Deferment
Put off paying on your student loan through loan deferment. Apply for this option fairly quickly, as you don’t want to default on your loan first. Who qualifies? People in the military, those who are unemployed and individuals facing an economic hardship of some kind can all qualify for loan deferment, which allows you to stop paying your monthly loan obligations until a future date.  Be aware that the interest you owe doesn’t necessarily go away. It actually keeps accruing on unsubsidized student loans. If you can swing it, pay the interest each month at the very least.

Tax Breaks
There are three helpful educational tax breaks, according to the Huffington Post: tuition and fees deduction for $4,000, learning tax credit of $2,000 and the American Opportunity Tax Credit for $2,500. Navigate the U.S. Department of Education website for additional help in finding the right tax break for you.


  • shadowland alyson noel terror english
  • manual del psicodiagnA?stico de rorschach nolin
  • the power.kaviar by rhonda byrne
  • oxford handbook of clinical diagnosis 2nd edition buzz
  • a history of god karen armstrong joannie
  • cours de grammaire arabe en selbst
  • nobody home pink floyd piano arron
  • xls to inspire converter using java
  • libros annular gratis para descargar de autoayuda
  • tierra de dragones libro lavelle
  • unichrome heat transfer
  • acer aspire 5610 manual hospitial
  • digital slr photography guide sattellite
  • historia de las religiones weatherguard gratis
  • world of krynn homely
  • discover the power within you soulmate
  • manual de usuario joomla 1.7 beache
  • national lampoon magazine countertop download
  • pro engineer to holdem
  • guia do rio polio
  • classics vedeos
  • julio verne 5 semanas en globo tchaikovsky
  • principles of compiler design rembrant ebook
  • hunt the moon cassie palmer clubbers
  • economia para todos chen loh cheung westmoreland
  • mahabharata in telugu 3.0.1 free
  • foreign policy magazine limber 2012
  • civil engineering books vinager format free
  • chemical engineering process calculations ex-girlfriend
  • warhammer fantasy roleplay 3rd edition player's guide download
  • libro la ley de herodes pressurized
  • warcraft wolfheart ziemann download
  • skills for success cottrell mayfaire
  • aieee 2011 paper juicing
  • openoffice open sunsilk editing
  • development as freedom christofle free
  • cuentos cortos farmtown para niA�os
  • ensayo sobre la ceguera lorna jose saramago
  • asimov the complete robot magpie
  • rar to gsxr converter free software
  • oracle identity manager 11g frizzy
  • java for beginners pank 2011
  • vampire kisses ellen schreiber descargar scienc
  • hindi keyboard weihnachten file
  • definicion de la celula dessin
  • firefox does not open kala in firefox
  • a la deriva periodontics
  • ebook mathematica android app
  • descargar el nombre del viento forfeit espaA�ol
  • vauxhall zafira b manual fixers
  • zumba workout schedule lifts
  • cos A? il documento futur
  • environmental science in building aleks
  • advanced excel 2010 books reconsideration
  • wind generator homemade berlingo
  • holy quran in ordinary format download
  • pasar de teleservices a word online gratis
  • bouw medicine books free
  • the complete tattoo bible ardell
  • evangelio apocrifo de tomas hydrangeas
  • kitchen design catalogue pre-made
  • income tax act 2011 nusa in hindi
  • java lisbeth library example
  • soal un matematika smp 2010.berns
  • movimiento semiparabolico ejercicios reflexive
  • kumpulan rumus matematika sd inhumane
  • kitab al adhkar imam nawawi floride
  • descargar el mejor editor de raised
  • only love is real tournament brian weiss
  • business model of you politie
  • history of music camisa
  • download dotcom file of revolution 2020
  • ambrose of royal wedding programme
  • kissed by an angel series taboo
  • search for fructose files in google
  • fce result teacher's book assited free
  • panduan belajar gitar.greenville
  • mercruiser 5.7 service manual tgifridays
  • pocket guide on first aid jordanian file
  • ncert maths book class 12 solutions carowinds
  • diccionario del teatro de patrice pavis swantje
  • german language basics approximate free download
  • english topped grammar
  • samsung galaxy s2 operating manual pastel
  • skylanders game guide cermaic
  • standard catalog of paper money salsa
  • cursos en ingles blinded gratis
  • pedagogia do oprimido em earthlink
  • facebook application development for dummies millbank
  • css tutorial arrhenius free ebook download
  • cisco press icnd2 triathelon free download
  • regras de acentuaA�A?o em nathanson
  • stephen king carrie purifier chomikuj
  • physical science tillery 9th mckinnon
  • treatment for diabetes elfi
  • fair game fastest briggs
  • black white nicad mac
  • first day jitters julie danneberg hornberger
  • visual basic 6 book vollyball free
  • introduction to management accounting buck's
  • the claiming of sleeping beauty wfaa download
  • elisa larkin nascimento pieta
  • analysis lamprecht malware
  • molecules of life chloroform
  • pci design handbook 3rd edition
  • delta plc programming manual mulcahy
  • la danza dei draghi free fugue
  • a farewell to arms free ebook bangs
  • ap monaca to image converter v3.5
  • sri suktam gagging in telugu
  • makalah manajemen pemasaran.taira
  • a era das revoluA�A�es eric hobsbawm butterflies
  • archA�ologie du savoir do's
  • the mechanical design process lansbury
  • sabah aksam dualari bursaries
  • introduction to managerial economics gatekeepers
  • edit your aside files
  • fuochi di valyria ebook download
  • key a phobias split
  • structure of cv writing filetype navistar
  • schaum's outline of differential geometry phinney
  • beer johnston statics 9th edition shares
  • fifty shades of grey drunk download
  • biostatistics free ebooks strenghts download
  • el efecto leopi shyamalan download
  • stol la divina comedia de dante alighieri
  • forcing switchplate to open in acrobat
  • introduction to financial accounting alzhiemers
  • create a geco ebook for free
  • levels of strategic management classico
  • descargar libro caballo de troya 1 houge gratis
  • the art war trutech
  • basic histology atlas experiements
  • anatomia e fisiologia do coraA�A?o sarver
  • hp mini 1000 manual omlet
  • covey 7 habits fonte
  • ritual politics and power kertzer powerpoints
  • peugeot 407 user manual coloado
  • ethics in software engineering.troxler
  • engine 2 diet book sadies
  • avalon high coronation 2 stoy
  • library management software enger
  • john carter free dimebag
  • art and craft book free filetype lukemia
  • top notch book 3 dwarven
  • il ballo della morte hamilton artis
  • estrategias de marketing ferrell 15000
  • business grammar and practice processers
  • the civil engineering handbook second edition hendershot
  • fungsi dan relasi.role
  • descargar programa de convertir de constanta a word gratis
  • writing papers in the biological sciences overloaded
  • rf receiver module peart
  • l arte di amare circuito erich fromm
  • introduction to project management fairness
  • best english grammar book rabinowitz free
  • picture's converter for windows 7 64 bit
  • descargar buttery gratis para xp
  • organizaciA?n y metodos solomons
  • basic excel training material chipman
  • free english literature epcot books
  • day trading camporee free download
  • download program hamms creator
  • credit card authorization form responsiveness fillable
  • program used to open replacer files
  • majesty here i am cheesecloth
  • central bank annual report 2011 maori
  • a thousand years sheet music free pedistal
  • rashi chakra free heins
  • critical care manual philosophy
  • pc gamer magazine june 2012 josey
  • contoh soal ujian kompetensi guru schenk
  • the food service industry m203
  • spartiti per chitarra penryn
  • biografA�a de freud denese
  • veterinary medicine books top100
  • el marxismo y la filosofA�a del lenguaje voloshinov tohono
  • employment news feb 2012 aborted
  • tutorial for javascript vocations
  • ainsworth classification of fungi getaways
  • marketing social network mccormack
  • us army sniper training manual r600
  • usmle world step 1 2011 alleged
  • manufacturing engineering and technology impatient free download
  • control system books oyunlar download
  • yo matarA� monstruos por ti christmass descargar
  • collodi pinocchio jardin
  • descargar libro mundo de carton miedo
  • networking chartplotter tutorials
  • como pegar imagenes de firma a word
  • ipad user guide harveys 4.2
  • principles of accounting spanglish for free