Student loans are a thing.
It’s possible to pay them off.
Being in debt can be stressful AF. Skimm'r Autumn gets it. The physician assistant graduated with $100K of student loans. If she’d just made minimum payments, it would have taken her 10 years to pay them all off. And she’d have spent $27K on interest. But she made a plan to pay them off fast that saved her thousands along the way.
Autumn paid off her student loans in 20 months and only paid $3K in interest. Here’s how she got there:
Tracking her money: She used an online budget calculator to better understand where her money was going, and how she could cut back.
Spending smarter: She brought meals to work, didn’t buy new clothing for about three years, and even thrifted her wedding dress.
Refinancing: Autumn was able to lower her interest rate from 7.4% to 3.4%. And saved a LOT of money as a result.
Everyone’s student loan story is different. But it can help to see other people who’ve been where you are. And maybe borrow some of their tips, too.
Say ‘hi’ to our weekly newsletter. Every Friday, we break down the news and info you need to make smarter money decisions.