Paying off your student loan debt doesn't have to be the worst thing ever. Here are some tools to make it less painful.
For the vast majority of millennials, starting your professional life post-college means dealing with a rather large deficit created by a number of student loans. That debt can seem like a never-ending nightmare to deal with, especially when you have goals of owning a home, traveling, and saving up for retirement. Getting help with student loan debt is your best way at managing and paying off your debt through these convenient tools. Browse through them and see which tool is best for you.
This tool provides a number of resources all in one place. Student Loan Hero was created by young professionals who needed help handling their own student debt. Here users can create a free account and enter in all their loan details. Then they can track their different loan on one website, learn strategies on how to lower their interest rates, and get advice on refinancing programs.
Tuition.IO works similarly to Student Loan Hero. It allows you to manage all your loans in one place and provides charts to more easily understand how making small adjustments in payment can actually save you hundreds or thousands in the long run. It’s free to sign up and also has a blog with helpful tips on how to pay off your loan and how to make the transition from student to business professional.
If the actual act of paying your student loans, along with your other monthly bills, is a challenge, consider using Mint. Simply create an account and include your payment information. This tool will then keep track of how much you owe and send reminders when due dates are coming up. You can even include your credit card bills as well. By getting these reminders and avoiding late penalties, you can already save money on your student loans.
This tool is a mobile app you can use from your phone or tablet to take your student loan debt management on the go. Track your payments, get reminders of due dates and get tips on what your next steps in your payment process will be. Creating an account is free and the app even gives you an estimate as to when you’ll be debt free. Who doesn’t like that?
The Federal Student Aid Office of the U.S. Department of Education created the Repayment Estimator to help students better determine their money repayment plans. Tax status, annual income, and family size are taken into consideration when compared to the amount owed and your initial interest rates.
Whether you use one tool or a combination of the above, take advantage of the information that is available to help you better understand your student loan debt and get on the fast track to being debt-free.
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