Paying Student Loans? Here’s What You Need to Know

One of the biggest questions students have after graduation is how to pay off student loan debts. It is a dark cloud that can hover over you when you are supposed to be celebrating a huge milestone in your life, but it does not mean that you will not see brighter days. Finding ways to pay off student loan debt is easier than it sounds, you just need to keep an open mind and know all of the available options. If you are a recent graduate, have student loan debt, and need help figuring out how to pay it off, the advice here is perfect for you.

What Kind of Loan Do You Have?


It is helpful to know what kind of loan you have used to pay for your education before you start paying it back. Subsidized and unsubsidized loans are two different loans with differing interest rates. Subsidized loan is reserved for financial aid qualifying students and the interest is covered by the government, and unsubsidized usually requires you to pay all of the interest rate as it is available to all other students not on financial aid. Make sure you know which one you are or were covered under so interest payments won’t stop you from chipping away at your debt.

Refinancing Options

Refinancing a loan is a useful way to manage the debt that needs to be repaid. Loan refinancing is a way to receive a better interest rate or reduce the monthly payments required. There are plenty of options available to help you refinance your loans so you do not feel stuck with a high interest rate or unreasonable monthly payments. Online is a good place to start for finding refinancing services, is among the many available. It is never a bad idea to seek help from professionals who deal with loan financing, more often than not we overestimate our understanding of finances.


Loan Forgiveness Can Help

Depending on what you plan on doing after graduation or if you are already graduated looking for help, loan forgiveness can be a solution for you. Loan forgiveness is applicable if you meet certain requirements. If you are working for non profit organizations, like a charity abroad, or if you work in government, your loan can be forgiven based on your service in these certain areas. Other options are military, law enforcement and teachers.



Student loan debt is a tricky situation to get out of but it is far from impossible. It can certainly be expensive to achieve our dream of graduating with a degree or diploma and land the dream job, making sure that the loans we need to get us there are manageable should be another one of our dreams. Doing the research on what kinds of loans we have, knowing the options for refinancing those loans for better interest rates, and considering alternatives to reduce or remove our debt are all tips to prevent the stress of debt from clouding your dreams.

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