The Benefits of Paying Your Student Loans Now
Student loan debt. Over 42 million Americans have them and see them as an irritating burden. In our recent edition of our Purse Empowerment TV web series Money Mondays, we talk about why it’s important to mentally adjust when you have that perspective so that you defeat that debt monster.
No matter where you are in your journey of tackling your student loans, there’s always something you can do to help your progress along. That’s just one of the jewels Ivy Bennett shared with us on Money Mondays.
Watch the replay where we talk about The Benefits of Paying Your Student Loans Now. Ivy shared some very useful tips like:
Make a habit of doing a monthly Google search for “loan forgiveness programs.” That’s how she found out about an initiative UNCF and African Pride (yes, the hair company) partnered on.
Know what you owe so that you can see how to plan and what your options are.
Use this time of forbearance to consolidate your high interest loans.
Find out if your employer is one of the ones “gifting” employees up to $5,000 towards student loan debt. The employer receives tax benefits for doing so.
Look into loan forgiveness programs for the industry you work in. Some of these programs allow you to be “grandfathered” in and allow for the money to be applied retroactively.
One of the first places to start addressing your student loans and looking at your options is studentaid.gov. All that and more can be found in the best 28 minutes and 28 seconds you’ll spend today. Check it out and empower yourself to get from under that debt.
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