How to pay off your student loans faster?
How to pay off your student loans faster?
In our everyday lives, we hear the stories of many individuals being stuck with their student arrears. The research shows that the student debt exceeds the car advances & other unsecured bills, including the credit card bills, by $ 1.6 trillion. This is one of the biggest crises, not only for the graduates who fall behind their repayment schedule & monthly payments but even for lenders, who have to face increasing default rates. It’s also a crisis for the government that provides a guarantee for these loans. Defaulting on student loans can have serious repercussions. It may damage your credit score, making it challenging to purchase a home, buy your dream car, or even rent an apartment. Moreover, it may also increase the total amount owed through the addition of penalties. Therefore it’s crucial to find ways to get rid of student debt.
Strategies to eliminate your student loan faster
It may be a big shock for most...