I paid off $22,000 in student loans accrued for my college age kids in 18 months. How did I accomplish this? What secrets did I use? My strategies for loan repayment are no different than those I used for paying off other debt. I use the old Nike shoe maxim--"Just Do It." Here's how it worked.Make big (and I mean big) payments. Paying off a large loan is like swimming in Lake Michigan when it's cold. You've got to dive in quick and get it over with. Going in gingerly just prolongs it. With students loans, making small, ineffectual minimum monthly payments just compounds the interest and inflates debt to elephantine proportions. During the loan repayment, I made $1,500 payments monthly. Read more
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