Defeating your college debt


As reported by, the Pew Research Center, “Americans owed more than $1.3 trillion in student loans” this year alone. The terms and conditions of student loans often entail a relaxed collection scheme, but the fact remains that the debt weighs on your shoulders and can feel like a millstone for decades of your life. Most students make their payments regularly, owing to the organization skills learned at college. What you might not know is that there are plenty of ways you can reduce your debt and make it easier to tackle the repayment heap.

Refinancing and consolidation

Often the quickest and most straightforward way to get your debt paid off is through restructuring. This can beneficial to those with qualifications that almost guarantee salary hikes and need a temporary respite, ultimately paying off the loan sooner. They can also benefit those with disposable income lying around now, but perhaps not enough to pay the full balance. Finally, those with low incomes who aren’t making what they thought they might can find plans that stretch the debt out for a longer period, reducing payments. There are numerous debt refinancing companies that can assess your career plan and needs and generate a better plan for tackling your debt accordingly.


Even for those who are looking at restructuring, it can be difficult to keep up with interest payments. Furthermore, the new legislation surrounding tax could eliminate the student loan interest subsidy. For those people, it can be worth looking into a new career path. Some colleges and other institutions will offer to pay off your student debt in exchange for taking educational qualifications in fields or subjects that are underresourced.

Holding out

Another option is to continue paying as best you can and holding out for the future. On the campaign trail, Trump suggested that he might implement a plan where students pay a flat rate of 12.5% of their income for 15 years in total, after which the student loan would be forgiven. Whilst it remains to be seen if this will come to fruition, it’s always wise to keep your eye on political developments and how they could affect you.

Student debt can feel like a weight on your shoulders. However, there are many ways to alleviate the stress of repayments and give you a sense of liberty again. Whether that’s debt restructuring, subsidization or political change, the answer is there for you.