Best Way to Pay Off Student Loans
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- เผยแพร่เมื่อ 22 ก.ค. 2024
- The best way to pay off your student loans. Using this method, I paid off over $175,000 in student loans in less than two and a half years. And you can take advantage of my strategy as well. Today I'm teaching you what I believe to be the best method and the best strategy for paying off your student loans. If you have student loan debt, this is your playbook for becoming debt free!
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FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY. NOT LEGAL OR FINANCIAL ADVICE. The information provided in this video and on this channel is for educational and informational purposes only. It is not intended to be a substitute for legal or financial advice that can be provided by your own attorney, accountant, and/or financial advisor. Practical Personal Finance accepts no liability whatsoever for any losses or damages arising from your own personal financial decisions. You are advised to consult with your financial advisor, tax professional, or attorney regarding any and all financial decisions involving your own income and taxes.
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Very valuable information. Detailed and simple to understand. Let’s get those student loans paid off!
Thank you Joe, I appreciate it!! And heck yeah!!
This is so practical! Your voice is also very calming!
I appreciate that Yassin!!! :D
Great video. I found it very informative. I enjoyed watching it. You explained everything so well.
Thank you so much Mike!! I appreciate you watching and I always appreciate the feedback!!
@@PracticalPersonalFinance You're very welcome. Thanks for the comment.
Some of the student loan interest is tax deductible. Only up to $2500, which sucks. One year, when we first started paying, we paid almost $7k in interest!
It does stink that there's a cap, but at least it's not necessary to itemize all of your deductions to take advantage of the SL interest deduction!! I had a ton of interest too when I started out, like $10K per year.
The student loan balance between me and debt freedom is $138,000. I’m currently trying to eliminate the interest before payments resume.
You sound like you know exactly what you're up against and you've got a plan. You can do this!! :D
I have about 150k between me and my debt freedom. I’m getting my 2nd master’s degree right now. I don’t think I’m going to refinance my loans because I don’t really understand what it means.
Great channel!
Thanks for watching!! It's great that you're already thinking about strategies to get that debt paid off. If the interest rates on any of your loans are over 5%, I would highly suggest looking into refinancing - it could save you tens of thousands of dollars in the long run. We're talking about a $100 difference per month or more! Let me know if you need any help or have any questions along the way. I did a video on refinancing a little while ago that could be useful! :)