187 Danbury Road
Congratulations! You’ve just graduated and have your diploma and couldn’t be more excited to set off into the world, but what’s the catch? Oh that’s right…an insane amount of money in student loans. Paying off student debt can seem impossible, but it can be manageable if you’re smart about it.
First, call the loan provider and talk through your repayment options & choose the option that makes the most sense for you. Make sure to sign up for a repayment plan, and put it on autopay – so you don’t have to remember each month to do it. Missing even one payment can do damage to your credit score.
Consider refinancing your loans. Refinancing simply means a lender is replacing your existing loans with new ones at lower interest rates. Through refinancing, your monthly payments could drop, which will leave you with more expendable money per month to help take care of rent, groceries, savings ect, or put more towards paying down the loan.
Receive cash gifts from family or a tax refund? Consider putting some towards the loan balance.
It may take some time, but little by little your student loans will chip away. Have a major celebration when it’s all paid off!