Financial Success - 5 Steps to Paying Off Student Loans

5 Steps to Paying off Your Student Loans

5 Steps to Paying Off Your Student Loans Fast!

Want to pay off your student loans ahead of schedule? We have strategies to help!

  1.  If you’re still in your grace period, now’s the time to make one lump sum payment to get rid of accrued interest. This will ensure minimal loan balance increases.  

  2. Consider consolidation through refinancing! Keeping track of multiple loans can be difficult, and some could have high interest rates. Shop refinancing rates to see if it’s right for you. 

  3. Little habits make a big difference. Sign up for automatic payments. Loan providers often offer lower interest rates if you go with autopay.  

  4. Put extra toward your loans or make biweekly payments. The quicker the principal decreases, the less interest will accrue. 

  5. Stay motivated! Make a chart to show your progress and reward yourself at important milestones!