Student Loans – Adulting with Richard Sherman: American’s owe 1.454 TRILLION dollars in student loan debt. And if you’re watching this, you’re likely a part of that number. You invested in your future and took out a loan for your education. But now you’re working like a dog to pay off these loans and it seems like the payments are never going to end. Don’t let the numbers burden you, there is a way out. In this episode of Adulting, let Richard Sherman lead you to the light with the steps on how to tackle these loans, one step at a time. Here’s the recap:
- Know every detail about your student loan: exactly how much you owe, the interest rate, and the exact date you’ll be done paying them off.
- Pay off your credit cards first, then worry about your student loans. Keep making minimum payments on your loans, but interest rates on credit cards are higher so tackle this debt first.
- Take advantage of debt relief programs. Some low paying jobs off this, or nonprofits and charitable foundations will even help pay off loans in return for services.
- Be smart about savings. Use your savings or any extra income of cash you have to squash those loans!
You’re adulting now, Adult! This is Adulting with Richard Sherman. Provided by Singleton Foundation for Financial Literacy & Entrepreneurship
To catch more episodes of Adulting with Richard Sherman on FinStream TV, please click this link: https://www.finstream.tv/videos/adulting-with-richard-sherman/