Managing paying off your student loans | The Frugalista

Managing paying off your student loans

by frugalista on July 10, 2008

Studentloan After reading some comments posted yesterday, I realized that a lot of Frugalista Files readers are grappling with paying off student loans.

Students loans may be regarded as a necessary evil to finance a brighter economic future. A lot of people don’t consider the loans to be "bad debt."  Still, they can be daunting. After all, you have to pay them back. Many college students are graduating with $20,000 or more in loans.

This article and this article offer tips to pay down your student loans. If you are in a much-needed profession such as teaching or nursing, you can get some of your loans forgiven. Some public service/government type workers can get their loans forgiven also.

Also, people who volunteer can get some of their loans paid off.  Americorps and Peace Corps come to mind.

If you make less than $65,000, you can deduct the interest on your loans during tax time.

If you have a student loan, how are you managing your payments?

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