Title: Best Strategies to Pay Off $100k in Student Loan Debt | Student Loan Hero
Headings: Best Strategies to Pay Off $100k in Student Loan Debt
Best Strategies to Pay Off $100k in Student Loan Debt
Cat Alford
Originally published Aug. 21, 2015
How to pay off $100k in student loans: 4 savvy strategies
1. Minimize lifestyle inflation
2. Research student loan forgiveness programs
3. Look into student loan refinancing
4. Focus on increasing your income
Conquering $100,000 in student loans
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Content: 4. Focus on increasing your income
If you’re serious about paying off your six figures worth of debt quickly, finding ways to increase your income is also an effective strategy. You might switch to a new career or change companies to pursue a higher salary. Or you could search for opportunities for a promotion and pay raise at your current employer. Outside of boosting your main source of income, you could supplement it with a side hustle. There are a lot of freelance opportunities to choose from, but think about where your skills and experiences lie. If you have an MBA, for example, you could work part time and help businesses learn how to budget and turn a profit. As long as it doesn’t consume too much of your time or energy, a side hustle is something you could do outside of your regular office hours to make extra money. Then, you can apply those funds to your student loan balance to pay it down faster. Conquering $100,000 in student loans
Ultimately, having over $100,000 in student loans — and figuring out how to pay off student loans — can be overwhelming.