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These five strategies can help.
Even small extra payments can make a big difference to your repayment timeline.
When making extra payments, ensure the funds are applied to the principal instead of the interest.
This can shave a significant amount of time off of your loan.
When possible, also consider cutting back on discretionary spending to free up more funds for debt repayment.
Why Pay Off Student Loans Early?
Paying off student loans ahead of schedule can:
Should You Refinance or Consolidate Your Student Loans?
When it comes to managing your student loans,refinancingand consolidation are both options.
The table below highlights the different advantages and disadvantages of refinancing and consolidation.
For many borrowers, paying off student loans early is worth it.
As you pay off your student loans, dont neglect your other financial priorities.
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