16 Legitimate Ways to Quickly Get Rid of Student Loan Debt


Dealing with your student loans may seem like an overwhelming task. The considerable volume of student loan debt we are dealing with is astronomical. According to CNBC, more than 44 million Americans hold about 1.5 trillion euros in student debt. The average graduate holds approximately € 37,000 in student debt.

You may think that your loans will be related to your financial future as a lead weight, but that is not necessarily the case. You have the opportunity to be proactive and work to get rid of this overwhelming debt quickly.

Let’s be honest, everyone would like to see their student loan disappear like a dark horse in the night. Unfortunately, this will only happen if you make an effort to get rid of it. It could be a difficult journey, but we have some ideas to help you get rid of your student debt quickly!

How to get rid of student loans quickly

How to get rid of student loans quickly

While these tips may not help you get your debt away overnight, you should be able to create a solid plan that will quickly solve your student debt!

1. Organize your finances

1. Organize your finances

It is likely that you have several student loans. You can even have federal and private student loans. Each of them can have their own payment amount and due date each month. Of course, it can be very confusing to keep track of all your student loans.

Gather all your loans

Take a look at all your loans together. Seeing individual loans in one place will help you see exactly how much you owe. It sounds so simple, but knowing more about your debt will be helpful. The more you know about individual loans, the better you can get rid of them. Quick!

Consolidate your student loans

It might be a good idea to consolidate your loans because even one or two missed payments could seriously affect your credit score! You will probably want to keep your credit score as high as possible throughout this process. Consolidation will help you keep track of your work.

Consolidation will help you organize your finances, which is good practice for all areas of your financial life.

Sign up for automatic payment

Set up an automatic payment is super easy to do. You will have the opportunity to do this through your loan company. Automatic payment is a simple tool that allows you to miss any payment. You do not want to forget to make a payment, as this could have a big impact on your credit score.

Why take the chance that you will forget? You might as well sign up for Auto-Pay, if only for your peace of mind.

2. refinance your loans

2. refinance your loans

You have the option of refinancing your student loans if the loans were private. This is a quick option to get rid of your debt, as this will save you potentially thousands of euros in interest over the life of your loan.

In addition to a lower interest rate, refinancing will also give you a lower monthly payment. These two benefits are incredible!

While it may be tempting to simply start paying the lowest option, I recommend that you continue to pay the same amount every month. By making this higher payment, you could reduce your loan by several years. These years translate into euros saved!

If you are looking for a lower interest rate, consider adding a co-signer to get a lower rate. You may be surprised at the difference between the rates.

Another advantage of refinancing your loans is that you may be able to consolidate your separate borrowings into one payment plan. Simplifying your payments can be helpful.

Most of these platforms will put you in touch with companies that can only help you refinance your loan if you have a stable job with a good credit history. Keep this in mind as you go through your choices.

When considering your refinancing options, be sure to choose a short term term. If you opt for a longer term than you currently have, you may not be saving money on long-term interest.

Refinancing your loans is a good option for some borrowers, but not everyone will benefit from refinancing. Usually, borrowers with the most to gain from refinancing have private loans.

However, if you have federal loans, refinancing may not be the best solution as you will lose your access to loan waiver plans and income-based repayment plans. Examine your situation carefully before deciding to refinance your student loans.

If refinancing seems like a good option, check out our favorite student loan refinancing companies:


Credifol is an online loan market that will allow you to buy loans on your time. It will compare lenders and rates of your student loans. The platform will give you an estimated personalized rate based on the information you provide.

Once you have your options, you will then have to make the final decision as to which lender company to use. You can easily apply for refinancing through Credifol.

It’s a free service, so if you’re about to try Credifol, you really have nothing to lose.


LendersPledge is another online platform that will allow borrowers to connect to credit unions and community banks for loan refinancing. Thanks to LendersPledge, you will have the opportunity to work with a small bank or credit union, which can be an attractive option for you.

In order to use LendersPledge, you will need to follow a few additional steps. After checking your interest rate and completing an application, Lend Key will conduct a credit check that could affect your credit score.

If you pay the check, you can choose a loan term from the credit unions and banks with which you are authorized to work.

The process seems long, but it will not really take much time. Remember that this measure could save you thousands of euros in the long run through interest savings.

One thing to note about LendersPledge: You will not be able to work with them if you live in Maine, Nevada, North Dakota, Rhode Island or West Virginia.


Doppel will combine your student loans with an appropriate refinancing option, but you will need good credit and stable income to apply.

One of the strengths of Doppel is that it can help you transfer the PLUS loan from your parents to your name. If it’s something you want to do, then it’s one of the few companies that can help you.

You might ask why would anyone want to do this? If your parents helped pay for your college with loans, you may feel motivated to help pay them back now that you are out of college. By transferring the loan to your name, you are relieving a huge burden on your parents. As we approach retirement, it will be one less thing that concerns them.

The platform is very easy to use and could save you thousands of dollars in the end.


Sinamose was originally created to refinance student loans and lend money to business students only. The company has diversified since then, so you can work with her as an undergraduate or non-MBA student.

You will be able to compare many different options via the platform. After making your choice, you will have to complete an application, accept a credit check and close the documents. Remember that checking your credit rating will affect your credit score, but it may be worth it if you find a good refinancing option.


Yensat can help you refinance private, federal and parent PLUS loans.

In order to work with Yensat, you will need good credit and at least two years of professional experience. In addition to these requirements, you will need to earn at least € 24,000 per year.

Loan duration options are 5,8,12 and 15 years. Choose wisely when choosing a term. Even if you have a lower interest rate, a long-term lease may cost you more over time. Look carefully at the options before refinancing.


Earnest is a great option for anyone who has a good credit rating and a high amount of student debt. You can refinance between 5,000 and 500,000 euros of student debt with this company.

Another advantage is that you will have the choice between fixed and variable interest rates. You are free to choose the interest rate that best suits your situation. Earnest has the disadvantage of not allowing co-signers. If you are interested, you will need to find another platform.

Kittys bank

Kittys bank operates brick and mortar banks and an online platform. The whole process can be done online, but if you feel more comfortable in person, you can go to a branch.

In addition to refinancing your loan with a lower interest rate, you can also benefit from rate reductions in addition to the initial refinancing. You can save 0.25% if you have an account at Kittys bank and a 0.25% supplement when you register for Auto-Pay.

A very interesting feature of Kittys bank refinancing is that you can refinance your loans even if you are not graduating from college. Most lenders will only refinance loans if you have graduated. Kittys bank will work with you if you have not completed your studies. If this is your case, it could be one of your best refinancing options.

3. Apply to a Federal Student Loan Waiver Program

3. Apply to a Federal Student Loan Waiver Program

If you have federal student loans, a forgiveness program may be able to help you a lot. Loans that would be covered by a rebate program are usually managed by the Ministry of Education, but other student loan companies can also service these loans.

There are several different loan exemption programs, but the Public Service Loan Exemption (PSLF) is different from the others.

This program is by far the most popular option. The PSLF program encourages graduates to pursue full-time jobs in the public service after graduation. Jobs are important to our society, but wages are generally not as high as those in the private sector.

The PSLF hopes to strike the right balance between the high cost of education and lower wages for higher education. You do not have to stay in a public service job after your loan has been canceled, but you may be tempted to stay where you are sure to make a difference.

If you qualify for the PSLF, you may be entitled to the full remaining balance of your loans. It’s really a great program to help any public servant get out of their student loan debt.

In addition to working as a public service, you will also have to make 120 eligible payments on your student loans while working full time at an eligible institution. So, what makes a workplace eligible?

Common workplaces include jobs at the federal, regional or local level. Non-profit organizations (501 (c) (3) s) are also eligible. Firefighter, law enforcement, public education, public health services, biologist and many others.

If you are unsure whether your job is qualified, contact a Human Resources representative at your place of work. It is likely that a human resources representative will know the exact steps you need to take for your specific organization.

Other forgiveness programs include forgiveness of teacher loans and forgiveness of military loans. Both are more specific to a group of professionals, but there are other forgiveness programs.

You should thoroughly check out a loan forgiveness option from the federal government. This is one of the best ways to quickly get rid of your student loans. You will have to spend your time in public service, but the rewards are worth it.

4. Check with your employer

4. Check with your employer

You may already know that some employers offer tuition assistance programs to help their employees pay for their education. This can be a good option to avoid student debt. You can already have a student loan debt, this option will not help you.

However, some employers are starting to offer student loan repayment programs. Although each program varies from company to company, the general idea is that your company will help repay your loan.

You can check with your human resources representative if your company has a program of this type. If you have not started working yet, then a student loan repayment program is something to look for in a potential company. As you negotiate your salary, you may want to talk about it. It’s never bad to ask!

5. Apply for a state aid program

5. Apply for a state aid program

Almost all states have a student loan forgiveness program. In fact, only five states do not offer at least one student loan assistance program, which will only affect you if you live in Alabama, Connecticut, Tennessee, Utah or West Virginia.

The type of student loan program proposed by your state will vary, but it may be worthwhile to check the options offered by your state. Many states offer multiple programs, so you can qualify for an extraordinary program.

Some states limit their support to certain professions, others will require a certain amount of volunteer time and others will help just because you live in a certain part of the state. The help provided by these types of programs can really contribute to the demise of your student debt.

6. Find a new repayment plan

6. Find a new repayment plan

Once you graduate, you have been automatically enrolled in the standard repayment plan. The plan involves 10 years of equal payments. This may seem like the only repayment option available to you, but it is not!

This 10-year repayment plan raises many difficulties, but is not aware of the fact that it can change it.

If you have federal student loans, you have many options for repayment plans. Some plans will allow you to pay a lower monthly bill over a longer period, while others will gradually increase your payment over time. It is likely that you will be able to find a repayment plan that suits your financial needs.

7. Find a repayment plan based on income

7. Find a repayment plan based on income

If you can not find a repayment plan that works for you, you may need to consider an income-based repayment plan. This option will only work for your federal student loans.

The basic idea is that you will repay your loans in proportion to your income. So, if you have a low income, your payment will be low. However, when you get a better paying job, your payment will be higher.

You have several options for a plan based on income, but the two most common are IBR (income-based reimbursement) and PAYE (fee-for-service). Either can help you choose a repayment plan that works well with your income.

In addition to allowing you to repay your student loans based on your income, these two plans have an additional benefit: the student loan rebate!

This seems to be a little known fact, but at the end of the repayment period, both plans offer a student loan exemption. An unbelievable extra advantage! The only problem is that you will still have to pay taxes on the amount given, but it will be a small price to pay in exchange for the removal of these student loans!

In order to sign up for these plans, you will need to provide proof of income and the Ministry of Education will calculate your monthly payment. Payment should only be 10% of your discretionary income, which is very affordable. Each year you will have to resubmit your income.

8. Do more than the minimum payment

8. Do more than the minimum payment

You may be able to add money to your payment every month. If you have the money, you should spend it on the payment of your student loan.

This is an extremely effective way to get rid of your debt faster, you just have to pay it faster! Your additional payment will go directly to the principle, so it can really help to make a difference.

Even if you can only add a few extra euros each month, it will really help you repay your debt over time. I just recommend adding the extra month in your automatic payments. It is much easier to add money to a regular monthly payment because you do not have to make the conscious decision to pay more than the minimum each month.

9. Use surprise money

9. Use surprise money

Everyone loves surprises, especially when it comes to money. Sometimes, exceptional falls occur, but not everyone will benefit. Rather than spending your surprise money on random items that you will forget or escape in a few years, use this money to pay off your student debt.

You may think that you will never get unexpected recipes, but you can If luck comes your way, be sure to use your money effectively.

10. Use your increases and bonuses

10. Use your increases and bonuses

You may be lucky enough to have a job that will earn you annual raises and bonuses. Instead of spending money for something you will not really need for a new car, use that money to pay off your debt.

Over time, you may be surprised at how this method will help.

11. Tighten your budget

11. Tighten your budget

Examine your expenses, anything you can reduce will help you repay your student debt faster. Use the money you can save to add to the monthly payment. As mentioned earlier, any additional amount you add to your payments will help you repay your debt faster.

One way to reduce your expenses is to use a service such as Trim to reduce your bills. You can also consider eliminating some bills completely.

12. Earn more money

12. Earn more money

If none of the above methods work for you, you may have to start making more money if you want to pay off your student debt faster. Earning extra money can seem like a daunting task, but it’s entirely possible for everyone.

In fact, it would really surprise me if you could not earn € 150 more per month. You can use € 1,800 to pay off your student loans. just have to put in the time. So what are the best ways to make more money?

13. Sell your stuff

13. Sell your stuff

You probably have a lot to hang out at home. We are all guilty of letting things come in and stay there. The clutter can be boring, but it’s mostly the money we spent unnecessarily to look in the face.

You can recover some of this money! Just sell the stuff. You can stick to small things like books, cooking utensils and furniture. But it is also possible to sell larger items, like your car.

Selling things can be difficult for you. I understand, it’s a good feeling to have beautiful things. However, you will have to make a difficult choice. Will you continue to have beautiful things, or will you sell them and free yourself from your debts?

14. ask for an increase

14. ask for an increase

I’m sure you’ve heard the phrase “It’s never bad to ask.”

This could not be more true in this case. You can potentially make more money by doing exactly the same job as you do now. If you are trying to make extra money, it’s a good thing to do. The worst that can happen is that your request is denied.

The best thing to do is that you have extra money on your student loans.

15. Overtime

15. Overtime

Most companies encourage overtime. You can easily accumulate extra money in a few extra hours a month. Remember that overtime pay is 1.5 times your normal salary.

It is always a good idea to check with your supervisor before working overtime. Make sure they are ready to pay you for that extra time you have spent.

16. Start a side hurry

16. Start a side hurry

There are countless ways to earn extra money. Be creative! You might surprise yourself and have a really lucrative idea. Here are some ideas to get you started:

  • Start a blog. It is more than possible to create a profitable blog. You will have to work hard, but success will come.
  • Freelance Writing Discover the ideas on Earn more writing to get started. Holly Johnson earns more than 200,000 euros in writing each year and can teach you how to start in this field.
  • Keep the children. A friend of mine earns hundreds of euros each month with this one. You can maximize your fare by keeping more children and by offering to watch them spend the night.
  • Take surveys. This will not make you rich overnight, but regular surveys could be an easy way to add money to your monthly payment. Even if you earn only a few euros a day thanks to your survey, every penny will be useful!
  • Find a local part time job. You can work for a company in your area to work on the side. This could be a great option if you find a flexible company to work for.
  • Rent your extra space. You could rent a part of your house to earn extra money. If you live in a tourist region, you may be able to work with Airbnb. If not, you can try to find a tenant. This is a great option as it will not cost you extra time.
  • Become a virtual assistant. As a virtual assistant, you would help businesses work more easily. The type of work you can do as a virtual assistant varies, but if you find the type that’s right for you, it can be a lucrative business. Discover € 10,000 VA to learn more about becoming a virtual assistant.

At the end of the day, it’s important to make more money. As this money comes into play, use it to repay your student loan debt faster. You may be surprised at how much a secondary expense will make all the difference in repaying your debt.

One thing to keep in mind when it comes to problems aside, is that you still have to pay taxes on that money. Be sure to set aside the taxes before you start paying off your debt. Otherwise, you may find yourself in a delicate situation at the end of the year.

Last advice

I’m not going to lie, paying off your student loan may not be an easy trip. This can be difficult and you may want to give up along the way. It will take work and dedication, but the end goal is worth it.

Imagine your goal. Imagine how happy you will be once you are finally free from the crushing weight of your student loan debt. You will be able to breathe easier knowing that you do not need anything for the diploma that you may have earned years ago. The long journey will end. The tips in this article will help you reach the goal faster.

When this becomes difficult, remember that it will be worth it. The idea of ​​a debt-free future may be the thing you need to keep working for the purpose, but use whatever you need to motivate you.


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