The Hidden Costs of Paying Off Student Loans Early
Student loan prepayment comes with many advantages, but there are a few downsides that borrowers should understand.
Eliminating student loan debt isn’t one-size-fits-all. Whether you’re deciding between paying off private vs. federal loans, making extra payments, or just coasting until forgiveness kicks in, this section breaks down your options with practical tips and strategy-first advice.
Student loan prepayment comes with many advantages, but there are a few downsides that borrowers should understand.
Forgiveness is restarting, interest is back, and new repayment plans are taking shape for 2026. Here are five timely tips to keep your student loans under control this October.
*There are a few cases where knocking out federal student loans first makes sense. However, the majority of borrowers will benefit from prioritizing eliminating private loans.
Extra payments are a great way to eliminate student debt. However, there are times when paying extra is a mistake.
Repayment of student loans is brutal, but credit card interest rates usually make credit card debt a bigger financial emergency.
Laurel Road’s cashback credit card for student loan borrowers isn’t anything special, but it is a decent option to use rewards to knock out student debt.
More college may be the answer to some student loan nightmares.
If student loan elimination is your only priority, this strategy will erase the debt the fastest.
Aggressive repayment is often treated as the responsible option, but coasting and making minimum student loan payments has serious advantages