Question by  Sreenivasan (9)

What is the best way to reduce your student loans?


Answer by  wj (646)

Take a year out before studying to work, and save everything you earn. Get a part-time job that fits around your studies. Save money by e. g. doing your grocery shopping in bulk at discount stores. See if you can borrow money from family instead of taking out a loan.


Answer by  Marsha94 (618)

Try not to take out any more loans apply for grants. Take on extra hours at work so you pay it off quicker and not owe as much interest.


Answer by  thebookmaker1968 (13)

Start working during weekends and vacations. You will not only earn money, but you will also spend less money on leisure activities because you are working.


Answer by  tamarawilhite (17883)

Refinance to a lower interest rate to reduce the monthly payments. Make as many principal payments as possible to reduce the total debt. Working in under-served areas as medical professional, teacher, or government employee can in some programs result in student loan forgiveness after 10 years. If in school, don't take on another degree to delay facing the job market.


Answer by  barkley (951)

There are some companies that offer to pay a certain amount of your student loans if you work for them, look for those companies. Also while you are still in school seek internships with companies that offer to pay student loans as part of the job package.

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