Think Smarter Not Harder

student loans

Photo By: Mattie J | Location: Southern Illinois University Carbondale


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Raise your hand if student loans scare you!

They used to scare me as well, but they shouldn’t. Back when I graduated college (the second time), besides finding a job, my biggest worry was how will I pay off these student loans? I think many people have different ideas and opinions when it comes to this. My first thoughts were, pay these things off as soon as possible. For most, this means overpaying on your student loans to get them off your plate in no time. Although that dramatically helps keep interest costs low, the downfall is dramatically less in your bank account each month – that’s no fun.  But what is the benefit of making the minimum payments on your student loans? I’ll tell you:

1. You can save extra money each month to go toward other things like travel, living expenses, rent, savings accounts, paying off credit card bills, etc. Yes, you will incur the extra interest rates but it will pay off in the end.

2. You won’t be as stressed feeling obligated to pay hundreds if not thousands of dollars each month toward your student loans. Some people literally have parties celebrating the fact that they’re debt free, which is exciting! Well deserved because their hard work has finally paid off and they don’t have the stress of owing money anymore.

3. Most importantly, you could use the money you save toward investing in stocks. I read an article on Yahoo about a year ago explaining how a young man graduated from college with an entry-level job. He used the extra money he previous use to overpay his student loans with to invest in stock. In about five years, he had enough money invested in his stocks to not only pay off his student loans in full, but extra to spare. I can’t find the article, but once I do I will link it here.

If you have the funds to pay your student loans off in large lump sums to get it over with, more power to you. If not, just remember there are other alternatives and these loans are by no means a one size fits all situation. You can do this, you can get through it, don’t stress and let it run your life. I know I am not 


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