High Student Debt? Try These Tips!


Are approaching a mental crisis point because your college debt is becoming too large to manage? There are many in your position, so don’t feel as if you’re the odd one out because you’re not. Student debts have never been as high as they are now because universities feel they can charge more and more in the modern culture. Financial aid is readily available as education is a business to the government as it is also a source of income for the population as a whole. Therefore, you need to think like a business person too. College debt shouldn’t be allowed to interfere with your studies because after all, your grades are the most important thing at the end of the day.

Get your bearings

You need to calculate how much you owe overall. Many debts are different because as universities might have their own payment scheme with regards to how much you’ll need to pay per semester or perhaps annually. Students will normally graduate with a number of loans on their shoulders, which are a mix of federally sponsored loan companies, and private companies who work independently. You should arrange and calculate how much you owe in total, and then how much you owe to each company. Only by knowing how much debt you’re truly in, can you get a clear picture of what you need to do. With these calculations, you can then form a plan a delegate your priorities.  

Bunch them together

It’s to your advantage to wrap the debt around your life, rather than have the debt control you. It’s much harder to pay off each loan in both practical and mental terms because each company you have a loan with has a different interest rate. Sometimes the plans can change after a set period of time, so you may have to increase payments or enlarge them, while also, keeping track of other payments. It can be a really harmful experience, to be chasing up multiple sources of money to pay back the ever-increasing demands. You should seriously consider visiting consolidatestudent.loan, where you can learn all about the types of schemes that can amalgamate all your loans into one payment plan. Your interest rates will also go down, making each payment you make, well within your ability, and allow you to keep your living standards high as possible.

Find the priority

To put a stop to the avalanche of debt, you need to make a plan to target the highest loans first. Any debt relief strategy needs to have a plan that gives you breathing room in the first place. One common tactic is to budget in such a fashion that you have enough leftover, to then allocate that money to the biggest interest loan, you have taken out. Once you have got the largest obstacle out of the way, you can then focus on the smaller debt packages. The first months will take a bit getting used to, but the key is to get the big fish, out of the way, as the increased weight can make the small debt looks larger than is.


There’s always light at the end of the tunnel, but you need to be seated at the table if you want to play the game. Think as a business would, and make sure your debts don’t pile up so much that you’re buried underneath them. Make concise plans and prepare for some financial belt tightening.

I hope you enjoyed the post! How are you planning on tackling your student debt? 

Thanks so much for reading, as always <3

Xoxo, Rae

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  • Reply RAE CHIC - Back to College, Back to Reality - RAE CHIC

    […] No one is denying that college is expensive. It is and you’ll be lucky if you scrape through without a few money problems. You’ll definitely go over your budget at least a couple of times in your second year. But there […]

    September 5, 2017 at 9:02 pm
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