Thursday, July 29, 2010

I need some advice about paying off student loans?

I am graduating from college in May with a degree in mathematics and I owe about 35K in student loans and I was wondering what is the best way to pay this debt off and If I taught high school how would my economic situation be.I need some advice about paying off student loans?
The best way to pay off this debt is find the best paying job you can get with your degree and agressively tackle the student loan debt before you commit to buying a house a new car or that new set of golf clubs you've been dying to impress your buddies with. Live frugally, live in the smallest, least expensive domicile you can find conveniently located to your work, if close enough walk to work when weather permits. Rice and beans, and beans and rice. Don't dine out, always fix meals at your home and bring your lunch to work. If you need to purchase transportation to work then go with a five or six thousand dollar car and pay cash for it. Cut out any unnecessary expenses. Create an emergency fund and fund it between 1000 and 5000 dollars depending on what you can afford. Only use the money in the emergency fund for emergencies. Pay your bills every month and whats left over, write a check for your student loans. It will be tough at first but in a few years you will have them paid in full and then you can start building your dreams, looking at houses, cars and knowing you wont have that money going out for student loans, your credit will be good, and you will have learned to live on less which makes having more even sweeter.Good Luck.I need some advice about paying off student loans?
Have you considered becoming a military officer? Its a good paying job, great benifits, and they offer student loan repayments, and maybe even a signing bonus depending on what job you choose. As a former Air Force member I can tell you its a good life and you should at least consider it.
You might consider talking to a debt expert at websites like http://oktutorial.com/debtadvice.htm

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