You’ve just sent a payment towards your debt. You feel GREAT… Until you realize… you still have so far to go! Being in debt is debilitating. It feels like the end is nowhere in sight and you’re just constantly trying to stay afloat. But, what if I told you that sometimes WE are the ones who make our situation worse? We can blame the soulless corporate banks or the conniving student loan companies, but the truth is: we are ALSO keeping ourselves in debt, indefinitely.
The first step in paying off loans is understanding the enemy. You need to familiarize yourself with how interest accrues and understand your repayment and refinancing options. Then, you can start eliminating that debt faster. So take a look at some things I did that allowed me to pay off $55,277 of student loan debt and travel the world.