Once you have graduated, the joy of having finally finished school will be suppressed by the fact that you need to start paying your student loans.
According to data released recently, over 44 million Americans collectively hold nearly $1.5 trillion in student debt.
Don’t worry, this guide will help you find creative ways that can help you begin to pay off your debts before you get too comfortable in your post-education freedom.
- 15 Crazy Easy Ways to Pay Off Your Student Loans Faster Than Ever!
- 1. Make more than the minimum payment
- 2. Start paying while in school
- 3. Try renting your vehicle
- 4. Sell photos
- 5. Join mock juries
- 6. Rent your friendship
- 7. Try dog sitting
- 8. Get paid to test apps
- 9. Teach English
- 10. Be an online tutor
- 11. Choose companies that offer graduate benefits
- 12. Be a designer
- 13. Be a dating coach
- 14. Transcription
- 15. Be a clown
15 Crazy Easy Ways to Pay Off Your Student Loans Faster Than Ever!
Student loans have no prepayment penalty, which means you can pay them off anytime. Why would you pay more money than you have to?
1. Make more than the minimum payment
The best way to pay your debt in five years or less is always to pay more than the minimum. Even if you do not have a stable job yet, an overpayment of as little as $10 could get you off debt faster. It shortens the term of the loan and the interests you have to pay.
2. Start paying while in school
You do not have to wait until you are done with school. If you can find some work with still studying, try paying your debt early. Your repayment period will be shorter. This is particularly helpful if you have unsubsidized loans that still charge interest even if you are in school.
3. Try renting your vehicle
If you have a car, you can make some extra cash by renting your vehicle to complete strangers. Companies like Turo let you do this and you can make some pretty good money doing so! You can charge whatever rate you want that will help you have some pocket money and still pay off your student loans faster than ever. It is a rewarding business and really clever side hustle.
4. Sell photos
Today, more and more people are looking for professional photographers. Some people are also willing to buy pictures of nature’s beauty online. You can take such pictures and sell them on photography stock websites. These fees may be small, but they add up.
5. Join mock juries
Unless you work in the courtroom, most people do not want to find themselves in the courtroom. However mock juries pay well, and they are fun to participate in. You can easily earn up to $200 per day.
6. Rent your friendship
Are you a fun person to be with? Well, there are websites where people are looking to pay for companionship. The best part is that you choose how much you want to charge per hour.
7. Try dog sitting
Pet sitting is a lucrative job today. People are looking for anyone to be their pet sitter. You are guaranteed to get a regular income to help pay off your student loans. You can even get paid for dog walking with companies like Rover.
8. Get paid to test apps
All the hours you spend playing video games can be worth it. You can now get paid to test apps and are paid around $10 per completed review. And it does add up.
9. Teach English
Do you know any foreign languages? If so, you can teach them to people who need to learn. Even better, you can teach English to people who want to come to the US and live here. You can easily sign up to become an English teacher at sites like VIPKid.
10. Be an online tutor
As a graduate, you have probably seen it all, essays, homework, assignments, dissertations, etc. if you are willing to teach and help other students improve their grades you can join this site and write my assignments in Canada.
11. Choose companies that offer graduate benefits
Some companies help you pay off your debts easily by offering some benefits that can help you pay off your debts. They will help you free up some time for other things.
12. Be a designer
Today, people love great graffiti on their clothes. If you have funny or inspiring quotes, you can buy t-shirts and print these messages on them. Sell them for a profit, and you can earn a lot.
13. Be a dating coach
Love is hard to find. Therefore people are willing to spend money to be helped to maintain their relationships.
This is a great job that you can do at home. Most companies will pay you good money per hour of audio. It is a great way to earn some extra cash.
15. Be a clown
Clowns earn a good amount of money per hour to entertain children on special occasions. It is a great job because you do not need to have a resume to be one.