{"id":8930,"date":"2024-12-03T09:59:49","date_gmt":"2024-12-03T09:59:49","guid":{"rendered":"https:\/\/finderica.com\/paying-off-student-loans-heres-how-to-speed-up-the-process\/"},"modified":"2024-12-03T09:59:49","modified_gmt":"2024-12-03T09:59:49","slug":"paying-off-student-loans-heres-how-to-speed-up-the-process","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=8930","title":{"rendered":"Paying Off Student Loans? Here\u2019s How to Speed Up the Process"},"content":{"rendered":"\n
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\"Paying<\/div>\n
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\n Digital Vision\/Getty Images <\/span>\n <\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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\"ScoreCard<\/p>\n

When I was at my brokest and plagued with student loan debt I couldn\u2019t possibly repay, my first instinct was to ignore it.<\/p>\n

Not my SS-est moment, I admit.<\/p>\n

But what can you do when you\u2019re choosing between groceries\u00a0and the electricity bill, and the federal government asks for $300? I laughed and swept it under the rug\u2026 and racked up tens of thousands in interest and fees over the years<\/p>\n

I wish I\u2019d known there were better options.<\/p>\n

Try These Tricks When You\u2019re Paying Down Student Loans<\/h2>\n

If I\u2019d have tried these tricks right after leaving college, I might not be sitting on $58,000 in debt right now.<\/p>\n

I hope you can learn from my mistakes \u2014 and the troves of financial wisdom I\u2019ve gained since joining The SS.<\/p>\n

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7 Ways to Make Money if You Hate People<\/h3>\n

Do you avoid people too? In the past, there was almost no way around working with people if you wanted to earn a living, but things have changed.<\/p>\n

Our team has compiled a list of creative ways<\/a> you can fatten your bank account this month, without having to put up with people.<\/p>\n

Enough small talk. Here are some ways<\/a> to earn extra cash, without all of the social stuff.<\/p>\n<\/div>\n<\/div>\n

When it comes to paying off student loans, here are some smart ways\u00a0to do it faster \u2014 before they balloon to an unmanageable amount.<\/p>\n

1. Figure out What You Owe<\/strong><\/h3>\n

The first step to paying off student loans is knowing what<\/i> you owe.<\/p>\n

Considering you often sign off on student loans as a teenager without a clear understanding of what they even are, we understand if you\u2019re not 100% sure where to begin.<\/p>\n

Credit Sesame<\/a> will let you see how much money you owe and to whom (even if you\u2019ve defaulted on loans). It\u2019ll show your balance on both private and federal loans and offer tips to help reduce your debt and raise your credit score.<\/p>\n

2. Lower Your Interest Rate<\/strong><\/h3>\n

For some, this could be one of the best ways to pay off student loans.<\/p>\n

Consider refinancing your student loans so you can pay them off faster and save money in the long run.<\/p>\n

An easy way to do this is with LendKey<\/b><\/a>, a service that allows you to quickly browse low-interest loans from credit unions and community banks.<\/p>\n

That\u2019s LendKey\u2019s secret sauce.<\/p>\n

LendKey\u2019s simple, straightforward online platform can help you find and apply for the right loan<\/a> without visiting a dozen bank branches.<\/p>\n

And if you\u2019ve been turned down by other lenders, don\u2019t fret. LendKey has more lenient credit score minimums and income requirements for applicants, so you have a better shot at getting a loan through the company.<\/p>\n

Plus, when you\u2019re approved for a loan you applied for through LendKey, you\u2019ll get a $100 bonus after the loan is disbursed<\/a>.<\/p>\n

3<\/strong>.\u00a0Build Savings You Can Put Toward Student Loan Payments<\/strong><\/h3>\n

You know how much you owe, but you obviously want to owe less, right?<\/p>\n

Check out an app called\u00a0Stash<\/a>.\u00a0<\/b>Stash can help you start investing and potentially grow your money\u00a0so you can\u00a0put it\u00a0toward your debt. You don\u2019t have to have an MBA or even make it all the way through \u201cThe Big Short\u201d to understand how to invest with this app.<\/p>\n

You just choose from a set of simple portfolios reflecting your beliefs, interests and goals, and it does the rest when you turn on \u201cAuto-Stash.\u201d<\/p>\n

Bonus: Right now, The SS is teaming up with Stash to give you an extra $5 after your first investment.<\/p>\n

4. Enroll in an Income-Driven Repayment Plan<\/strong><\/h3>\n

Even if you don\u2019t consolidate your loans, you could benefit from an income-driven repayment plan. These plans could help you avoid default or deferment, so you can continue to make steady progress on repayment.<\/p>\n

These loans come in four different (but similar) varieties:<\/p>\n