The BEST Strategy for Paying off Federal Student Loans FAST (It’s not what you think!)
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- เผยแพร่เมื่อ 22 ก.ค. 2024
- If you've ever wondered "What student loan should I pay off first?" or "What's the best way to tackle my student loan debt?", then this is the video for YOU! Here's the BEST strategy for paying off federal student loans FAST! Trust me, it's not what you think!
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▶ RESOURCES MENTIONED
- Debt Reduction Calculator Spreadsheet: www.vertex42.com/Calculators/...
- Federal Student Loan Repayment Calculator: studentloans.gov/myDirectLoan...
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Last month I finished paying my last student loan payment...its official I'm debt freeeeeee👍😂😂😂😂
Amazing!!! Congratulations!! 🎉🎉
@@TheBemused
Thank you...feeling is amazingggggg ...I can slept much better now that I finished paying it all offfff.😁👍🏼
congrats on paying off! I also paid off $300,000+ in full 100% after i completed 3 of my degrees. i personally don't like to pay more than minimum payments, unless it's super high interest rate. i would consider the opportunity cost and use it to invest and generate more. so i actually use the money to invest instead of paying the loans, then i ended up tripling my investment, so i paid off my student loans fast that way. i just posted a video about how i paid off $300,000 on my channel. please check it out and let me know what you think too 😃
When u pay loans off, did your credit score go down? If so, how many loans did u have and how many points did it drop?
thats amazing!! well done!! I have £75,000 waiting for me
Occupation: Biochemist, Cancer Research
PhD Completion: 2015
Salary: $52,000 per year
May 2016 Balance: $51,000
March 2020 Balance: $4,292
Earliest Zero Balance Date: June 1, 2020
Way to go!!!
WOW!
MisterTutor2010 congrats 🎊
Dang what state ?
@@kevinkidneyy Texas
1. Set up auto-debit with your loan surfacer
2. Choose the right replacement method
3. Choose the right student loan payment plan (lowest minimum monthly payment)
4. Focus just on the loan you want to pay off first.
5. Make the payments as soon as you have the cash
So grateful within the next week I’ll be 10k left to completely paying my off 100k debt.
@@steffan683 How were you able to do it?
@@saanvi848
@@saanvi848
@@steffan683 who is your financial coach, do you mind hooking me up?
Occupation: Postdoctoral Fellow in Cancer Research
Salary: $47,800 per year
May 2016 Balance: $51,000
October 2019 Balance: $9,629
Earliest Zero Balance Date: July 1, 2020
That's awesome! Congrats in advance on paying off your student loans!
Damn
How?!!
Wow
How much do you pay a month?
During COVID-19, there is 0% interest on certain loans. If you can still make payments on your loans, please do! This means all of your money goes toward your principle. I started out doing the snowball method and paid off 5 of my 7 loans. I am now switching to the avalanche method for the last two loans since they are the largest and will pay on the loan with the highest interest rate first. I now only have 2 loans left and plan to pay them off in 4 months. This means I would have paid a total of about $29,000 over a period of about 8 months all during COVID. Debt be gone!!!! You can do it!!!!!
Thank you for sharing!! Great progress! -Akeiva
How did you do it I owe $20,000 and I don't have a job right now at the moment give me tips please
Please give more advice on how you did this? How long will it be 0% interest for ?
You were paying $3500 a month? Unless you're making over 125k a year, which majority of folks aren't, not everyone can pay that much in 8 months. Ppl need realistic strategies
@@kittensmitten3287 You don't have to pay as much as I did. I was aggressive and I sacrificed alot! Like oodles and noodles alot. It's more about the method used to achieve the goal. This is all from Dave Ramsey. However, with the methods, you pay what you can afford and/or sacrifice.
Omg I had no idea that if you set up auto debit, it decreases interest by a quarter of a percent. Thank you!!!
Yep! Thank you for watching! -Akeiva
Does it really work?
I just had to sign for a loan and I’m so scared😭😭😭. Definitely setting up a college fund for my children one day.
Touche! Best wishes on the journey! On the bright side, you are learning how to manage these things sooner rather than later! -Akeiva
The Bemused: Making Sense of Money 💰 Yes! Thank you🖤
Same
Nooooooo give it back, cancel. You hear too many stories...why?
MuchGoodIsGiven !! I can’t afford to go to college without it
I prefer the snowball method.... but to each it's own. As long as we all pay them off.
That’s the spirit! Best wishes on your journey. -Akeiva
@Shimi's Life, what the "snowball" method you used? I would love to compare the ideas and see which one works for me. Thanks
@@believeable1965 The snowball method is paying minimums on all of your debts, and then paying the most that you can on the smallest debt. so if you have a 80,000 students loan, 50,000 car loan, and 5,000 credit card, you start with paying as much as you can on the credit card. once that's done, all that money snowballs down to the car loan. then student loans.
@@colei8752 It's not as efficient as the "Avalanche" method, which is paying off the debt by highest interest rate first. Bonus points for stopping when all your debts are less than 4-5% APR and investing the difference.
@@coreyeverett5500 You're right. I was just explaining what the snowball was
Step 1: make a bunch of money
Step 2: pay off your loans
Step 3: profit
Graduate from medical school. Ha.
@@chrisd6736 Or a STEM major
@@chrisd6736 ahaha
You can do better than that
Yes!!
I got a total debt of about 84K and I’m tryna pay this down by next year! I’m gonna give this a go. This quarantine will help me do this. Tfs!!
That’s one of the benefits of this weird time. You’ve got this! 💪🏽 -Akeiva
The Bemused: Making Sense of Money 💰 thank you! 😊
I also paid off $300,000+ in full 100% after i completed 3 of my degrees. i personally don't like to pay more than minimum payments, unless it's super high interest rate. i would consider the opportunity cost and use it to invest and generate more. so i actually use the money to invest instead of paying the loans, then i ended up tripling my investment, so i paid off my student loans fast that way. i just posted a video about how i paid off $300,000 on my channel. please check it out and let me know what you think too 😃
This was so helpful! I've been stressing about my loans for months
Aw, man! I’m so glad this helped you! -Akeiva
I also paid off $300,000+ in full 100% after i completed 3 of my degrees. i personally don't like to pay more than minimum payments, unless it's super high interest rate. i would consider the opportunity cost and use it to invest and generate more. so i actually use the money to invest instead of paying the loans, then i ended up tripling my investment, so i paid off my student loans fast that way. i just posted a video about how i paid off $300,000 on my channel. please check it out and let me know what you think too 😃
The Krazy Koala you mean you use the money that you would’ve paid towards your loans to invest and triple your investment to in turn pay the loans? Am I getting that right? If so 😍 kudos to you
The Krazy Koala damn what the hell
value
Yes! You got thissss 💪🏽 -Akeiva
Value! Thanks for the video. I’m trying to help my wife find a solution to her student debt woes and this is a perfect first step. Thanks!
I’m glad it helped! Thanks for watching and best wishes on the journey! -Akeiva
DANG GORLL!! This was extremely helpful. You gave me the knowledge and assurance that I can pay off my student loan debt and that it isn't as hard as I make it to be!
So glad to hear that!! Best wishes on your journey! -Akeiva
Value! I've had similar ideas in conversation with friends and this finally backs it up with the numbers. Thank you for making this video it will definitely be helpful for me!
I’m so glad! Thanks for watching! -Akeiva
“VALUE” subscribed and saved to my finance folder... will be using this after i pay off truck note too...✌🏽
Awesome! Thanks for watching! -Akeiva
Hi. Thank you so much for this video. As a first gen student, I'm teaching myself all this info. Loans are a bit scary, but you definitely made this process easier to understand ❤
I am so glad to hear that. Thank you for sharing. You've got this! -Akeiva
Fantastic video, straight to the point, direct, insightful and helpful. VALUE!
👏🏽 thank you for watching! -Akeiva
This was so helpful. I complete my degree next month and this is my second time watching this and about to go change my payment plan!
Awesome! Congrats in advance on your graduation! -Akeiva
This was so good I had to subscribe. You should do a Q&A! This really got me thinking
Welcome to the Squad! 🎉
Great video!
For me I was thinking of going extended graduated like yourself or extended level to have a low base minimum monthly payment, and then put the majority of my payments each month specifically to high interest loans and working my way down.
Every article I’ve read always discourages choosing one of these two plans so that’s how I stumbled upon your video doing more research. Those articles must not take into account that we re putting the bulk of our money on the side towards specific loans within it.
That’s exactly it! I’m glad you enjoyed the video! -Akeiva
*Watch our FREE webinar: Financial Freedom Formula (How to Build Wealth without a Six-Figure Salary): **thebemusedtv.com/webinar*
In less than 60 minutes, you'll learn:
✨ the strategies used to increase our net worth by $180k in 3 years (without six-figure salaries!)
✨ 3 major money myths that could be derailing your wealth building progress
✨ my MUSICAL framework for financial success - the 6 things you need to pay attention to in order to become the financially thriving boss that you were called to be
Check it out at thebemusedtv.com/webinar
This calculator is AWESOME! I've been searching for searching for something like this! Thank you!
So glad you like it! I love that calculator and use it religiously. -Akeiva
Super insightful and not cliche at all! Thank you for teaching me how to be smarter with my loan payments!
Thank you for watching!! -Akeiva
This was soooo helpful. I could cry 😭 thank you!
You just made my day! So glad I was able to help you through this video, Natasha!! -Akeiva
WOW. WOW. WOW! You've got a new subbie. Thank you for this!
Thank you for watching!! -Akeiva
omg omg omg! this is my plan format! i didnt even know a video existed on this! i developed my strategy after YEARS of debating the various methods (while in school then during the pandemic) and I could have saved all that time by just watching this video! omg im sure you have helped so many people! this even gives me hope to know my plan is a good one because its exactly what you mentioned, thank you! 🙏
Love it! Best wishes on your debt paydown journey!! -Akeiva
YES VALUE, this was so helpful. Teaching me things I didn’t know I didn’t know. I’m hooked!
🙌🏽 Welcome to the Squad & thank you for watching! -Akeiva
I actually came to this exact plan on my own but then got panicky to make sure I made the right choice... which is how I came to your video! I’m so glad to see another person doing it the exact same way! And I’m literally paying off my car first then on to the loans!
That is awesome to hear! Glad you found us! Best wishes on your journey. -Akeiva
This is extremely helpful! I really feel like I have a plan of action now.
That’s so awesome to hear! Best wishes on your debt payoff journey and welcome to the Squad! -Akeiva
Value this was fire and so helpful you really put me on to auto payments!!!❤️❤️❤️ Thank you!!!
That makes me so happy! Thank you for watching! - Akeiva
This should be 💯 shown to all high school seniors before they graduate. Just the thought that you are going to school to get a job to pay off going to school would be a wake up call.
Agreed! You should at least know what you’re getting into and have a plan before it’s too late. -Akeiva
Very helpful video. You reminded me that I’m not alone. I can do this. I’ve been stressing about this for months.
I'm so glad! Here's the link to another video that I think you will find helpful: th-cam.com/video/X0KR5G_rt8I/w-d-xo.html
Value! Awesome tips and advice! Good luck on your journey of being debt free :)
Thank you for watching! -Akeiva
Hello, I am not in college yet, but I can tell you that you are a godsend to future students who have lots of student debt. What you are doing is great!
Thanks so much for your kind comment! Glad you’re enjoying the content. -Akeiva
You're brilliant! Thank you! I subscribed. Thank you for the information.
Aw thank you! I appreciate you watching! -Akeiva
VALUE x 100,000. Thank you so so much! You are so smart. I learned more about my student loans from you in
I’m so happy to hear that! Glad you found value from the video. -Akeiva
Value...I hit like within the first 2 minutes. Actually helpful for my situation.
So glad you enjoyed the video! -Akeiva
This is the first video I am watching of yours and I’m so drawn to you! 😀
So glad to hear that. Welcome to the Squad! -Akeiva
Thank you for this video!! Please don’t ever take it down 🙏🏿💯💯
Thank you for watching! We certainly don’t plan to! -Akeiva
❤️❤️❤️
Very helpful information! Ill be starting a graduate program and the loans will be quite a bit…………added to previous loans. Im already looking for ways to pay my loans off. Thanks for the content!💯
So glad you enjoyed the video. Best wishes in grad school! -Akeiva
Im so scared, Im gonna have 120k in loans by the time i graduate college and that’s not including med school. This video calmed me down
I’m glad it helped keep you stay calm! Student loan debt can be stressful, but having the tools and know-how to manage it helps! -Akeiva
Just contact me. I have a solution
You can reach out to this dude on IG he helped me out with mine I got like 5 soft pulls out from him and some inquiries removed got his referral from a friend I must say his authorize trade line his handle on Instagram is hacker_gustavo4 my first car I bought was with his CPN and he did for 3other which I no he is a pro and legit you can reach out on watsap.+1(570)2439601.
@@broose117slay5 I smell scam🤔🤔
@@kingmidas2645 how you gonna say this and not tell the rest of us?🥲😂
Thank you very much sister that information really help. Keep the good work I'm your number one fan.
Thank you for watching! -Akeiva
This was the best video. Exactly what I was looking for.
Awesome! Glad you enjoyed the video. -Akeiva
Thank you for this! I have about 80K in student loans (without counting interest yet as I am just graduating) and freaking out about high payments on the 10 year standard repayment plan! Will def look into the 25 year graduated plan and debt avalanche approach :)
Awesome! Yes, look into allll of your options and figure out what works best for you! -Akeiva
Look into the income driven repayment plans. Get yourself a lower payment and then pay more than that each month.
3:23 really got my attention and made me laugh 😂 I’m about a year from graduating so I wanna make sure I know all available avenues before I have to start making any payments and this definitely gave me some new insight.
I’m so glad you enjoyed the video! Best wishes on your journey! -Akeiva
This is great. Your target audience is “young upwardly mobile” grads but many still paying loans can benefit from some of this info (while regretting not knowing earlier). There’s so little real counseling on these loans. Most interesting was consolidation downside (inability to avalanche high interest loans, well that ship has sailed) and reminder of interest accruing daily (we all like to take as much time as possible to pay monthly bills, clearly one should pay student loans asap). I subscribed.
Absolutely! Glad you got a lot of value from the video and thanks for sharing your insights. Welcome to the Squad! -Akeiva
This video is great. Better than the 10 or more articles I read about this topic. Thank you 🙏
So glad you found it helpful! -Akeiva
Good video, my daughter is getting ready to start. My little advice would be if you can pay your monthly total broken up into weekly payments. You will save interest that way and it will be less for your mind to absorb if it’s a larger monthly payment. Set it up automatically and try not to think about it.
Thanks for watching! -Akeiva
Wowww I’m only a minute in and getting so much value. I had no idea auto pay reduces interest 🤯
Amazing! Glad you’re enjoying the video!
Thank you so much for all these information. I really appreciate it!💯😄
Thank you for watching! -Akeiva
thanks. the link for the calculator was very helpful and your strategy makes perfect sense to me
So glad you found it helpful! Thanks for watching! -Akeiva
value thanks for your straight forward teaching method without a lot of fluff in between. It made it easy to listen to you and watch. You are a natural-born teacher. Thanks again!
Thank you so much for watching and for your kind comment! I’m glad you found the video useful! -Akeiva
OMGOSH; everything you're saying is going over my head. I t's like Charlie Brown's teacher. "I DON'T UNDERSTAND!". I am so confused, I just want it to go away. At my payment rate, the rate that I'm making payments; it will NEVER be paid off! I got myself into this mess, and I have so much regret ever going to school! I did not fully if at all, understood what I was getting into. I was promised that the filed I went into, I will find a job quick, and I am nowhere near the field that I went into. Have anyone ever regretted going to school because of student loans? I f I had the job that I went to school for, I might be almost done with these payments and DEBT FREE!
HIGHLY FAVORED I certainly regret not being smart about loans. I should’ve looked for a TON of scholarships, worked more, budgeted my money, done prerequisites at a community college.... I’m with you though. So many regrets. Just want to get my life together. Recent single mom (husband is gone) so now I need to figure out how to pay off my loans while providing for my kids. God help us!
I’m so sorry to hear how stressed out your loans are making you! Here’s another video that I hope will help: th-cam.com/video/X0KR5G_rt8I/w-d-xo.html
I'm right there with you. I was so lost in all of this stuff. It took me forever to get a job after college and the pay isn't at all what I thought it was going to be. I definitely regret going too. I ended up going with the REPAYE plan. I don't think my job has a ton of upward mobility. I'm not sure I'll ever be making more than $50k. So REPAYE base your pay on a lot of things like your family size, if you're married or single, how much money you make, etc. You have to update your info every year, but you only make payments for 20 years and whatever amount is left at the end is forgiven. So let's say you don't end up getting a job in your field or your field just doesn't pay much, you will make low monthly payments in this plan based on what you can afford and then all is forgiven after 20 years. The only downside to me is that when the remaining amount is forgiven, it is treated as income by the IRS. So when you do taxes, that might affect things. I'm just putting money aside in savings over the next 20 years so that if I owe taxes that final year, I'll be able to pay it off. It'll still be a lot less than paying off the entire amount of my loans in full plus interest. Look into "income driven repayment plans" if you're in the same boat as me.
HIGHLY FAVORED totally agree!
I understand completely !
great video. absolutely new to this stuff and I walked away with a lot of info. thank you
So glad to hear that! -Akeiva
Great info. We are trying to find the best path to fund college for our daughter and this helps tremendously. Thank you.
Value!
I wish I had known earlier that setting up auto-debit could reduce my interest rate. I so thought the smartest thing to do was the standard repayment method over 10 years because it was the fastest method of paying off loans with the least interest, but listening to you explain that doing the lowest payment plan and simultaneously using the avalanche method makes so much sense!
This makes me so glad! Thanks for watching! -Akeiva
this was so helpful, thanks!
Thanks for watching! I’m glad it helped you! -Akeiva
VALUE!!!! This was so incredibly helpful. Thank you for sharing the knowledge! 🙌🏻
Thank you for watching! Glad you enjoyed it! -Akeiva
VALUE. I'm a CFP® and must say this video is concise, well-explained, and clear. I will be sharing this video with all my retirement plan participants who are recent graduates. Will definitely be coming back for more good content!
Nice to hear from a fellow CFP®️! Glad you found the video helpful. Not enough people are talking about this! -Akeiva
👍🏾👍🏾 two thumbs up for paying off debt!
👏🏽👏🏽👏🏽 -Akeiva
I also paid off $300,000+ in full 100% after i completed 3 of my degrees. i personally don't like to pay more than minimum payments, unless it's super high interest rate. i would consider the opportunity cost and use it to invest and generate more. so i actually use the money to invest instead of paying the loans, then i ended up tripling my investment, so i paid off my student loans fast that way. i just posted a video about how i paid off $300,000 on my channel. please check it out and let me know what you think too 😃
If you make under 55k per year, u can qualify for a federal income based program. They also come with student loan forgiveness.
Value, thanks young lady. The information was definately valuable.
Thank you for watching! -Akeiva
Fantastic! Thanks God for your education for pat off student loan. I follow you right away!!!!!!!!!!
Thank you for watching! -Akeiva
Thank you for this video!
Did you do a video on the different loan repayment options that you mentioned at 5:37 ? I don't see it on your page.
Thank you for watching! We haven’t. However, if that’s something that will be of
interest to you, we certainly will! -Akeiva
@@TheBemused I would appreciate it!
Hello, was this video posted as yetM
Value!!! I had no idea about auto pay! Setting it up rn! 😁
Yay! Get your savings, girl! -Akeiva
Yes. It's a small discount but anything helps.
Value!!! Genius strategy!!! Would love to see the second video about the repayment plans for federal loans
Thank you for watching! Here’s that video: th-cam.com/video/sFok26f69Pw/w-d-xo.html -Akeiva
This was the most helpful video I’ve watched on loans yet
Glad you enjoyed! -Akeiva
Value! Can't wait to knock my student loans out 💵💵💵💵
👊🏽 we hope you do! -Akeiva
If you ever need to clear off your debt contact Keith, +1#602#0769#
I just cleared off $69,780 debt thanks to him
VALUEEEE!!!! I'm a community college student graduating in jan 2020 and this was soo helpful in regards to my future loan payments. Thanks so much honey
Glad it was helpful! You've got this! -Akeiva
I wish I ever thought about money when I was a young adult. You are one smart lady! This could really be the “All things Money for Young People AND old people who were clearly dysfunctional as young adults.” (Clearly I fall into the latter of the two categories.) Thank you for this video!
Hahaha it’s never too late! Thanks so much for watching! -Akeiva
I know I'm seeing this video 10 months after it was posted. That being said, you can login to FedLoan servicing, create an account if you haven't done so already and you can make additional payments towards individual loans at any time above your regular monthly payment.
Yes, that’s correct for those who have FedLoan as their student loan servicer. The same concept applies for any federal loan servicer as well. -Akeiva
Hopefully Biden help with atleast 10k of student debt. GOODLUCK TO ALL! 💕
We can only hope!
I hope not! That just means higher taxes. I'm for refinancing or halting interest on loans to help people repay, but giving other people's money so casually is never the answer.
Romy mallari it’s for a good reason tho i think it should be requirements like for people who actually graduated with a degree should get some of their money forgiven. Just like how they got all this money for these stimulus checks and people with kids they should actually be help hard working people! We need doctors, lawyers, nurses etc...
@@edwinnochebuena1214 it’ll probably only affect the top 1%. Also, reducing student loans helps stimulate the economy because people have more money to spend.
@@xander_k_ you are delusional, and you really have no idea how taxes are allocated. However, paying off the debt doesn’t fix the issue of people borrowing money to pay for a degree that isn’t worth it.
Good video. You got to the point quickly and were very detailed.
Thank you for watching and for your feedback! -Akeiva
This has been the most helpful student loan payoff video I have yet to see. Thank you so much!!
Thank you for watching!! -Akeiva
You can just Contact Mr Amazing Billionaire Hacks on Instagram @amazingbillionaire_hacks) to get money into your bank account or credit card. NO UPFRONT FEE is required. He increased my credit score to 850 and has been helping me load my card with money every month for 3 years already. Contact him now and thank me later(;
My student loan servicers NEVER allowed any prepayments or reducing interest rates... They also screwed up my records thoroughly!! Only one servicer allowed that after nearly two years of steady payments in default status, that all the overdue fees but not the interest was forgiven...
If they were allowed to charge only interest or late fees, not both, that would be more like regular loans. Overdue interest each year was added to the original principle, so that in a few years, interest is calculated on interest as well!!
The Federal student loan program needs drastic overhaul!!
That sounds terrible! I’m sorry that your experience with your student loan servicer was so bad! Which servicer did you have? -Akeiva
Value
I used the calculator.
For the standard: $79 a month (total amt paid..$9,429)
For the extended graduated: $44-$133 (total amt paid..$9,921).
So would the standard actually be cheaper for me or if I pay more than the bare minimum w/ extended graduated anyways I wont even accrue that much interest?
I have 2 loans, subsidized & unsubsidized.
Awesome!
That’s the approach I’m taking! Ultimately, you’ve gotta go with a payment schedule you feel comfortable with and can stick to. -Akeiva
Thanks for the tips! I hope to pay off all my student loan debt soon
You got this!
Thank you so much...I have auto pay and to be honest I had no idea that this simple convenient step was also an interest reduction hack....WOO HOO thank you love for this bit of great news 💜
Yes! Such a simple way to save some money! I’m glad this video helped. -Akeiva
I just wanted it for the confidence of set it and forget it. It was great that I also reduced my interest. I set the extra money to auto debit from my highest loan.
I applied for forbearance and was honest "I make plenty of money. I have no emergencies or job loss. I just want to pay on one loan, not all." FedLoan let me have forbearance for 18 months, which is enough time for me to pay off all my loans.
That's one way to do it! Smart! -Akeiva
Isn’t interest being accrued on the loans? It’s so confusing.
During a typical forbearance yes, interest still accrues. You just don’t have the obligation to make payments for a certain amount of time.
In the current environment, under the CARES Act, no interest is accruing under this automatic administrative forbearance. Hope that helps! -Akeiva
Akeiva is right. Interest is accruing. But if you are doing the avalanche method, you let the interest accrue on all your loans accept the loan with the highest interest rate. Only paying on one loan will ding your credit without forbearance.
While in a forbearance, interest will always accrue whether the loan is subsidized or unsubsidized. The only time interest does not accrue is in a deferment (you have to qualify for it and only subsidized loans does not accrue).
I was just thinking about how I wanted to change my student loan strategy.
Well, you’ve come to the right place! -Akeiva
VALUE! Thank you girl. I can’t subscribe fast enough
🙌🏽 welcome to the Squad! -Akeiva
Very smart tips, explained well. Checking your channel to see how you're doing 3 years later . . .
Glad it was helpful! Our latest video gives a good glimpse into where we are now! -Akeiva
Step 1: Finish college
Step 2: live with your parents for 1-2 years spending as much of the money that you make towards student loans as possible
Step 3: ez dubs
That’s one way to do it! -Akeiva
not everyone has parents.... unless curling up in a grave counts?
@@GorgieClarissa well, most people do haha.
@GorgieClarissa In that case, don’t change your life’s and keep living as if you were a student for 1-2 years :)
Or live with parents family while in college and stop foolish spending i lived with family first three years college covered by A + but was spender and had nothing to show parents had no money so loans 2002-2004 started destroying my future. I wish I had saved paid cash for classes especially grad school since it was 1 class at time. Also wick I had paid while in school especially grad school during Grace period six mo the and reduce capital interest almost 10000 I’d been debt free already and never left neltnet bc I hate Fedloan
Lol glad I watched the video until the end, I thought her name was Value... I kept seeing it in the comment section 🥴
Hahaha I guess it has a nice ring to it. Thanks for watching!! -Akeiva
I really needed this ❤️ thank you!!
Thank you for watching! -Akeiva
this video is ridiculously helpful. thank you for this
Thank you for watching and for your kind comment! -Akeiva
I have 11,500 left 😭😭 hoping to get it paid off by next year
Awesome! You got this! -Akeiva
Got 19k left after an initial 40k loan. It was at 29k up until I paid 10k on it all at once last spring. I wanted to pay it off by 2021 but I had to loan 5 figures to my sister and her family. I'm determined to still have it paid of in 2021 though. Good luck!
Wander Lust how did you do it please?
Wow congrats
Please explain the payment options
Are there any payment plans in particular that you have questions on?
@@TheBemused I am currently using the income based repayment plan
Yes I learned something new tht I never heard before. Valuable info. You are a pretty smart young lady...your parents must be awfully proud of you!! Good luck with your debt payments.
Thank you so much! So far so good! -Akeiva
Excellent points. Thanks for sharing!
Thanks for watching! -Akeiva
I cant even get a full time job with benefits here in Indiana. It's all bullshit🥴
I’m sorry to hear that! What do you think is holding you back from getting a job? -Akeiva
If you are umemployed, you can qualify for and income based program. Your payment would be zero and you only have to recertify 1 time per year. This program comes with student loan forgiveness.
Start so.e dide hustle. Food, transportation, etc. I started an online gift company. Or....move when things open back up.
Have you tried OH or KY? or even a job not in your degree field, a degree open variety of doors and prayer
It is not BS. Did you think about the job market before choosing a major? Will you relocate for a job? Are you willing to work multiple jobs?
If I have 2 different federal loans, one at 6.08% and the other at 7.08% interest rate. If I consolidate them into one. Will I reduce the overall interest rate?
It would be the weighted average of the two rates. For example, if both loans have the same balance, the new rate on the consolidated loan would be 6.58%. -Akeiva
Value. Your video is of great value to my personal situation. Thank you so much.
My blessings to you:_
May the almighty God continue to give you more of all the valuable things in life!
So helpful. Thanks, I’m starting tomorrow
Best wishes on the journey! -Akeiva
I’m just try to pay off my 10,800 debt so I can go back to college
Good luck! -Akeiva
And I’m trying to pay 9,000 ! It seems as if it’s impossible
Step 1: try and get a decent job
Step 2: do taxes every year
Step 3: pay of your debts with tax money
Step 4 : *STONKS*
After I pay off my car this year I will implement this strategy for my student loans. They don't stress me out like some people though. I don't know why...probably bc I've owed the money for so long and I'm just now hopping on the debt free train.
That was me! Just paid off my car in December and now reallocating fund to my student loans. Good luck! -Akeiva
Value! Wow. I'm knee deep in debt because of student loans. I'm currently in the process of paying off my credit card debt and a personal loan and the ETA to get that paid off is July 2020. Once I have that done I want to attack the student loans. I'm definitely going to follow your steps so I can get this debt out of the way ASAP! Thank you for sharing!!!!
That’s so great! Thanks for watching and sharing your story! -Akeiva
Mike help me pay off my student loan of 10k and also funded my account with 5k, so easy and straight forward. I am ever grateful, text him + 1 2 5 1 9 9 9 0 9 1 5
My husband and I are in about 50k combined student loan debt. In a few months we could either completely pay off our student loan debt or use that windfall of cash on a down payment for a house.... Decisions decisions
I can relate! I’m sure you’ll make the choice that’s best for you and your husband. -Akeiva
Half and half!
Awesome! Thanks for letting me know what you decided! -Akeiva