How to Stop Stressing About Student Loans
Posted on October 5th, 2010
If you owe money on student loans, you know that it can cause major anxiety. Whether you’re still in school or paying up, that great big number in the back of your head can be a big downer. Fear not—there are tons of us in the same exact situation. Dial back the anxiety with these great tips for easing the pain of payback:
• Know your number. Man (woman) up and look at your total amount due. We know it can hurt, but knowing it is also the #1 trick to getting over worry and paying it off. While you’re at it, find out your interest rate and research find out if you could do better. You can check out average rates here.
• Go game plan. One key to de-stressing is making a game plan and sticking it to it. How much can you pay each month? How long will it take to pay back the total? What plan is right for you? Your go-to person for help with this is the financial aid counselor at your school.
• Think consolidation. Sometimes, moving your debt into one account can mean easier payments. Easier payments = lower stress. No-brainer, right? All I’m saying is, it’s definitely worth looking into; and you can do it at sites like this one.
• Eyes on the prize. Being debt-free will happen in good time if you stick to your plan. If your plan isn’t working, just rework it until it fits. And don’t sweat paying off your loans early if it’s not in the cards. Trying to throw down more cash than you can afford can up your stress big time.
If you’re down on your debt, remember: done right, school loans can actually help you build good credit. So just stay strong and keep on keeping on. For more hot tips on student loans, click here.
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Tags: Loans, Student Loans
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