Burdened with college debt? Here’s how you can repay yours in no time!

If you find yourself burdened with mounting college debt, then don’t worry because you’re not alone. Currently, the state of affairs with respect to student loans is abysmal, and in the United States alone the amount owed to the banks in lieu of financial assistance has tripled over the last decade. At present, the total student loan debt in the United States amounts to over 1.5 trillion dollars.

However, with the rise in the number of students shouldering the burden of student debt across the world, there is an emergence of numerous opportunities that could help students manage this immense burden. In today’s day and age, there are multiple jobs that can be banked upon in order to discharge the apparently insurmountable debt in no time. The most common jobs undertaken by college students include babysitting, tutoring, doing freelancing jobs like web-designing etc. The nature and qualification of such jobs vary, and even the most easily obtainable jobs also require a certain minimum degree of qualification.

In addition to these part-time jobs, which take up a huge chunk of one’s valuable time, students now have access to several other lucrative opportunities. Fortunately, with the explosive growth of the internet, there are several opportunities available for students to make money from the comfort of their dorm rooms. For instance, live casino dealers offer a convenient and easy way to earn money, which could go a long way in repaying one’s intimidating student loans. These live casinos transcend the barriers imposed by time and place and are gold mines just waiting to be tapped to your advantage.

Alternate Repayment Plans

Keeping up with regular monthly payments is the most straightforward way of ensuring that you do not end up defaulting on the repayment of your student loans. While considering this option, it is essential for potential borrowers to keep the interest rate in mind, before applying for such loans. It is advisable that students go for the Income-Based Repayment program. This is so because it offers the flexibility of repayment to those individuals who find themselves either doing a freelancing job or working in short-term employment set up.

As a measure of last resort, students could opt for the option of refinancing their loans. This opens up the avenue for repaying the loan at a lower interest rate.

Top view of stressed young asian woman trying to find money to pay credit card debt

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Loan Forgiveness Jobs: Lifting the burden off

Starting out with the huge baggage of student loans isn’t exactly the best start to one’s professional life. Luckily, there are several jobs which allow one to start off with a clean slate through loan forgiveness programs. Typically, these programs are available to individuals who are working in areas of high need, or in public service organizations.

These jobs include employment with the federal agency, working in the public services, becoming a doctor, dentist, teacher or a lawyer. Once you have satisfied the eligibility requirements for loan forgiveness, you will be free from all your student debt with just a few years of professional service in such jobs.

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