3 Reasons To Pay Off Your Student Debt ASAP

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If you are part of the small group of people who finished school with zero debt, kudos to you, or your parents. If you are like the rest of us, you have some debt hanging over your head. It could be a few hundred bucks from that “celebratory” night at the campus bar, or it could be several thousand that went to tuition, books, living expenses, etc.

BOOM! Reality just slapped you in the face and it’s time to start paying off your debt. Do you pay the minimum every month to avoid interest or do you pay off as much as your budget allows? Well, everyones financial situation is different but the team over at Making Sense of Cents has three reasons why you should pay off that debt now.

If you want to have a sense of freedom, more access to credit, and an overall feeling of peace to avoid thinking of that lingering debt every minute, check out The Benefits of Paying Off Student Loan Debt Early and start your journey to being debt-free.

Photo Credit: CarbonNYC

2 Comments

1. 

   Simon @ Modest Money

   August 27, 2013 at 10:52 pm

   By all means if one can pay them sooner one should do it. Debt in whichever form is like this dark cloud that hangs over your head and well, rains on your freedom parade from time to time.
   Being debt free on the other hand frees you to pursue other opportunities guilt-free 🙂

   Reply
2. 

   GetRichWithMe

   September 14, 2013 at 7:33 pm

   depends on the interest rate of your student date, and the rates of return you can make on your investments.
   While student and mortgage debt might seem like a huge amount – the interest rates can be quite benign.
   Inflation can be a big help in eroding the value of your debt too
   Just getting rid of debt because it is debt can sometimes be irrational

   Reply