So, you are a student and looking for ways to get rid of your student loan debt? Relax, it happens to almost every student and their are plenty of ways that have worked in the past and there is no reason why they should not work for you. You just need to decide exactly what you want first. Do you want to pay off your debts as soon as possible or get by on paying as little as you can each month. It surprises me that students do not even have a plan for getting rid of their debt yet it angers them so much.



If you want to get rid of it as soon as possible then I recommend something called a debt snowball. This is when you line up all of your debts on paper or a spreadsheet and put them in order from highest to lowest. You then start paying the bare minimum on all the debts except for the smallest one. The idea being that once you have paid off the smallest of your college debts, you can then start to pay off progressively bigger ones and it will keep you motivated in comparison to looking at some huge debt. Also, you start to have less and less debts and can concentrate on just a few, minimising paper work. This does not count for urgent debts as they should obviously be paid off first.



Another idea that has come into play that many students are taking up is consolidating their debts. This means that you get all of your little debts and sell them off to a company who you them pay money too. The biggest benefit for me is that you get to just pay one monthly payment and you always know where you stand because they are fixed interest debts which never change. You just set it up by direct debit and then it is totally out of your mind until it is paid.