The Save Money Blog

Posts Tagged ‘student loan’

A couple of people I know were talking about how much their children owed for their educations and I could not believe just how far in debt these kids were as a result of their student loan. I too found myself owing a lot of money when I graduated from university. I was paying off more in interest every month than I was paying for my loan.

My solution was to go to my bank and talk to them about my loan. It was the best thing I ever did and he actually said that If I had come to him a year or two earlier I would have been debt free. How did I pay it off? Debt consolidation. I took my two student loans and a car loan and consolidated them into one loan from the bank. The interest rate was so much lower it was crazy. I paid everything off in about a year. I probably would have been paying those two student loans off today. Talk to your bank and lower your debt.