More than almost anything, I want to get out of student loan debt.
And I want to help you get out of student loan debt, too.
It’s a huge part of my mission on this blog. In fact, most readers who contact me are young, professional women who are drowning in student loan debt and it’s hindering them from doing something important (like get married or have kids).
If I could give you the magic potion that made your student loans vanish I would. Unfortunately, there’s no quick fix. There are, however, tools that you can use to help you learn to manage your debt and get rid of it.
The first tool is yourself. I can’t stress it enough how important it is that you adopt a mindset to pay off your student loans.
Every email I get includes something to the effect of “honestly, I don’t know if I think I can get out of debt”. This is a mindset that you cannot afford to have (literally).
The first tool you need to utilize is your mind. I have an entire post dedicated to teaching you how to believe you will get out of student loan debt.
When you’re done reading it, read Dave Ramsey’s The Total Money Makeover. This will give you the step by step action plan to getting out of debt.
You can get out of student loan debt. There is no magic pill to take and no rich relative who is going to come and pay off your debt (at least for most of us!). That said, it’s up to you to take control of your financial life and pay off your debt. The sooner you adopt this mindset, the sooner you’ll be debt free.
2. The Department Of Education
The Office of The U.S. Department of Education’s website is the best website for getting accurate student loan information about Federal loans. It’s the Federal Government’s website on student loans, so you can trust that what you read is true with respect to Federal student loans.
Student loan calculators will show you exactly how long you’ll be paying your loans, how much interest you’ll pay, and the effect of paying off your debt faster.
There are tons of calculators out there, but I personally like Student Loan Hero’s calculators for your each and every student loan need (prepayment, refinancing, deferment, etc.).
4. Student Loan Blogs
More than anything, there is tremendous comfort in connecting with someone who has suffered similarly to you. That’s why it’s important for you to read student loan blogs and connect with other student loan suffers. It really does help. Here’s a short list of blogs dedicated to student loans: 1) The Student Loan Lawyer, 2) Get Out Of Debt Guy, 3) The Student Loan Show by Jay Fleischman.
5. Student Loan Websites
Websites that provide information about student loans can be critical to helping you create your own get out of debt plan.
I like to think that blogs provide hope, inspiration, and comfort in this area, and websites provide the knowledge that will help you create your own plan.
A Final Note!
There are many student loan resources out there that can help you tackle your debt. I suggest using this guide as a starting point and taking control of your financial future by creating a get out of student loan debt plan.
Whatever you do, make sure you believe in yourself and commit to becoming debt free. Without that, I think it’s near impossible to get out of debt — it’s the one thing that matters most for getting out of debt.