As we start our careers we now have a boulder to carry, as well as trying to figure out the rest of adult life. Then, usually six months later we start getting those little white envelopes asking for our money.

Below are three ways to tackle student loan debt – The most important part of it all, is to put more on the loan than the minimum requires.


1. The Snowball Method

Start with the smallest loan and put extra on it. This helps those that benefit from motivational payoffs. As each loan gets paid off, there is a celebration of success. Always pay the minimums on your other loans, as you snowball the first one.


2. The Avalanche Method

Start with the largest loan and put extra on it, while paying the minimums on the other loans. This one take longer to get that motivational payoff, but you are attacking the largest amount and that takes time.

3. The Highest Interest Rate Method

Start with the highest interest rate loan and put extra on it until it is paid off. You will need to make sure you are paying the other at the minimum amount required.



There really is no “trick” to paying off debt, just smarter and more efficient ways of handling it. These different methods will help you save interest and time on the loans. Pick one method and move forward.

If you are in a tough spot, some loan companies will base your monthly minimum off your income and others will allow you to defer your payment for an extended time. This may be helpful if you don’t have a job or have a low salary.

Good luck and Godspeed.


Information contained herein does not involve the rendering of personalized investment or financial advice, but is limited to the dissemination of general information.