Debt Elimination Archives

How to Pay Off $40,000 in Student Loans

Finding a way to pay off $40,000 in student loans presents some unique challenges because it is right on the border of many strategies.

Eliminating all of your student loans by age 40 can be a challenge, but it is possible to pay off all of your student loans in 15 years or less.

When payments go almost entirely towards interest, lenders profit and debt lingers. Fortunately, there are ways to improve this situation.

Many major media outlets get a lot of clicks by publishing “inspirational” student loan payoff success stories. This trend needs to stop.

Knocking out half of your student loan debt may open up new doors to eliminate the second half of your balance with more ease.

Payments toward interest are profits for lenders. Payments towards the principal balance eliminate debt.

Knowing when student loan interest gets added to your balance means you know how to prevent student loan interest from getting added to your balance.

Whether your are making great money or just getting by, if you are careful, you can avoid some common student loan mistakes.

Elimination of student debt is the goal of any student loan borrower, but there are few items to consider before making that last payment.