3 Creative Ways To Pay Off Your Student Loans

ways to pay off student loanLoans for students can quickly add up. Before you even graduate you will not only have the stress of finding a job, but also you’ll have to make arrangements to pay off your student loans. It may take some creativity and extra hours to help pay off these debts.

Credit Card Reward Programs

You’ve likely heard of credit card reward programs. Example: you might spend $1000 and earn 1000 mile on an airline of your choice. Joining these programs can even help you to earn some extra cash for paying off your college loans. SmarterBucks is a reward program of this sort offered through Simple Tuition.

You can use this while you’re shopping online when you chose to use SmarterBucks. You can also earn discounts as well as ten percent cash back toward your student loan payments. Each time your rewards balance comes to $15 or above that, you’ll automatically make an extra payment on the designated loan for your account. Friends and family can also opt to join in the program and gift you their rewards in the same fashion.

Get Help From Your Employer

Many employers will also pay off the student loans for you. Naturally, you’ll have to give them something in return such as a signed contract that you’ll remain with the company for a certain amount of time. You may be required to take a few concessions in your salary as an exchange for this reward but it may be a great way to assist you in taking away your financial burdens.

Be A Volunteer

It may surprise you to know that you can actually earn some credit toward paying your student loan off through volunteering in an approved organization. AmeriCorps, Peace Corps, Teach for America or even aiding poor people and those of under-served areas may all help to give you some forgiveness on your student loans or at least to partially forgive you.

It may have something to do with your area of study or it may simply be the volunteer work you choose but you may have all or part of the loans taken care of should you elect to become one of the following:

Healthcare Worker
social Worker
Police Officer

It’s not always easy to pay off your student loans, but when you consider other repayment solutions you may find that these really are great ways to get some of your loan taken care of. Naturally, learning to down size and cut back on some of your living expenses may also be helpful in paying down your student loans. You could use public transportation and save money by not owning a car and you could go with a monthly cell phone plan in lieu of an annual contract as well. Creativity can go a long way toward paying off student loans.

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