student loan mistakes to avoid

5 Student Loan Mistakes to Avoid as a Digital Nomad

When you’re jet-setting from country to country, it’s easy to forget about responsibilities back at home. But ignoring your student loans would be a mistake that could haunt you for years to come.

That’s not to say you should let student loans hold you back from traveling the world. On the contrary, going abroad, especially somewhere with a low cost of living, could be a great strategy for getting out of debt fast.

Just make sure you’re not making any of these student loan mistakes along the way.  Continue reading “5 Student Loan Mistakes to Avoid as a Digital Nomad”

how to pay off student loans early

How to Pay Off Student Loans Fast: 15 Expert Strategies That Work

As a personal finance writer, I’ve interviewed a number of “success stories” who paid off a massive amount in student loans in a short amount of time. Sure, some of them had higher-than-average incomes, but most didn’t bring home an especially large salary.

Instead, they kept their living costs crazy low so they could throw as many extra payments as possible at their debt each month. Plus, they found ways to boost their income and lower their interest rates, often through student loan refinancing, to crush their debt even faster.

Although paying off student loans ahead of schedule will probably require some lifestyle changes, these sacrifices could be worth it in the long run. After all, using one or more of these approaches could bring you years closer to a debt-free life. Continue reading “How to Pay Off Student Loans Fast: 15 Expert Strategies That Work”

student loan refinancing 1

Student Loans Devouring Your Travel Fund? How Refinancing Could Help

Are student loans getting in the way of your dream to travel the world?

Although there’s no easy way to get rid of your student loans, there is a useful strategy for saving money on them: student loan refinancing. I refinanced my student loans a few years ago, and was able to shave years off my debt and save thousands in interest.

And as someone who loves to travel, having extra money to put toward my adventures was well worth the effort it took to refinance my loans with a new lender. That said, refinancing isn’t for everyone, so you should know all the pros and cons before you make changes to your debt.

This guide will explain what refinancing is, who should refinance, and how to go about the process. Continue reading “Student Loans Devouring Your Travel Fund? How Refinancing Could Help”

student loan repayment options

5 Savvy Strategies for Managing Student Loans as a Digital Nomad

Student loan debt in the U.S. has reached scary new heights. Altogether, Americans owe $1.48 trillion in education debt. In the Class of 2017, the average graduate left college owing $39,400 — and that doesn’t even include whatever student loans they might take on in the future for graduate school.

If you’ve got student loans, you know how stressful it can be to send off big payments to a loan servicer each and every month. But rest assured, your student loans don’t have to stop you from building a career you love while traveling the world.

By exploring your student loan repayment options and finding the right approach, you can still accomplish both these goals. Whether you’re trying to become a digital nomad or simply travel more, here are five savvy strategies for managing your student loans. Continue reading “5 Savvy Strategies for Managing Student Loans as a Digital Nomad”

Secret’s Out: How to Reduce Your Student Loan Payments to $0 When You Go Abroad

If you’re a millennial, you’ve had to endure a pretty harsh economic landscape. First, you graduated into the Great Recession, when good-paying jobs were scarce. Experts say millennials will never catch up financially compared to the previous generation. Sigh.

Second, millennials are dragged down by student loans, with more than 44 million borrowers owing a collective $1.48 trillion. Student loans have a nasty habit of eating up your paycheck before it even has the chance to settle into your bank account.

If you’re one of those 44 million burdened with student loans, you might think traveling the world is out of reach. But if you’re interested in living in another country long-term, an international lifestyle could actually work in your favor.

In fact, working abroad could mean your federal student loan bills get reduced to zeroand you could get loan forgiveness eventually. Here’s a little-known trick for traveling with student loans that could just get rid of your student loans once and for all. Continue reading “Secret’s Out: How to Reduce Your Student Loan Payments to $0 When You Go Abroad”