HOW TO PAY OFF STUDENT DEBT (AS REPORTED BY MICHAEL BENNINGER ON BLOG.MINT.COM)

Each year the amount of total student loan debt outstanding increases. For new graduates, coming out of school with average debt of around $25,000, paying off the full amount can seem like a near impossible task.

The first thing you need to do is get a job and create a budget. Figure out whether or not you expect to pay back your loan in the time period allowed; 10 years for most student loans. If not, you may be entitled to some loan forgiveness, or qualify for one of the federal government’s income based repayment plans.

For a full breakdown of how to pay off your loans, read this article.

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