Student Loans Archives | JackieBeck.com

How I Paid Off $60,000 of Student Loans (And Bought Two Houses)

How I paid off $60K and bought two houses written above block houses and toy forklift unloading the blocks that spell out loan. This is a guest post by Financial Wolves, a blog about making money with side hustles to help you achieve financial freedom. It’s the story of how they paid off student loans while also investing in real estate.

Paying off student loans is a long journey that can feel like a roller coaster ride. Some days you feel like you are making massive progress. Other days feel like you have too far to go, so what’s the point?

But the point is obvious: Flexibility and freedom. Student loans cripple your ability on a monthly basis to do the things you actually want to do.

I’m starting to believe the government loves student loans because it forces people to work. You become enslaved to working because you need to, not because you want to. Student loans limit people from doing what they love to do work wise.

For example, what happens if you get burned out working in your job? Well, if you have student loans you have few options to simply take time off or switch careers.

For me, that was the ah-ha moment that sparked a massive urgency to payoff my $60,000 of student loans as fast as possible.
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When You Should & Shouldn’t Refinance Your Student Loans

When you should and shouldn't refinance your student loans Did you know there’s currently $1.44 trillion in student loan debt in America? That’s an astronomical amount of money. So if you have student loan debt, you aren’t alone.

Student loans were meant to help students, and they have, but they’ve also created a huge source of heartache and stress for millions of people.

For most borrowers, student loan debt lingers for years. It starts to affect future plans like buying a home and even starting a family.

What can you do about it?

Of course, you can add them to your debt snowball or debt avalanche.

But one way that borrowers have tackled their student loan debt is through student loan refinancing. We’re going to going into detail on that here.

If you’re up to your elbows in debt and want some relief, refinancing your student loans might save you money. But it’s not for everyone.

Here’s what you should know about student loan refinancing, reasons people choose to do it, and whether it might be right for you.
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Why You SHOULD Worry About Student Loan Interest

Think your student loan interest rate is so low that it's not even worth worrying about? Think again Sometimes I hear people talking about how they’re not paying off their student loans because the interest rate is “so low that it’s not worth worrying about.” Even if they have the money on hand to repay it.

Something about that just seemed off to me. I spent some time with a few calculators (including my Pay Off Debt app) to puzzle it out.

What I found might surprise you.
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Stopping Student Loan Garnishment on Federal Loans with Quick Action

The US government can take up to 15% of your disposable pay if you're in default on your federal student loans. Here are some ways to go about stopping student loan garnishment. 7 million federal student loans are in default, and garnishment is one of the many ways the government can get their money back from you.

Under federal regulations, the government can take up to 15% of your disposable pay if you’re in default on your federal student loans.

Though the Department of Education doesn’t need to go to court and get a judgment to start a garnishment, there are administrative procedures in place to protect your rights and give you a chance in stopping student loan garnishment.
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