Forgive yourself for needing student loans
Especially if you are in a relationship with someone who doesn’t have or paid off his or her student loans, you may feel guilty bringing this obligation on to them. Don’t.
I’ve found that the best financial skill you can bring into a relationship is having a plan for your future. Your degree gave you higher earning potential and a better chance at a job you love. As long as you can show you can handle your payments, you’re not a financial burden to anyone.
Understand your options
Half the problem with not facing your student loan debt is you won’t learn about the best options for repayment. Here are a few that might work for you:
- Some federal loan borrowers may qualify for a program called Public Service Loan Forgiveness based on their occupation and after ten years of on-time payments under specific plans. People who work for government organizations and certain non-profits could get some of their eligible federal student loan debt forgiven.
- Income-driven repayment plans can lead to lower monthly payments.
- Several options provide for subsidized federal student loans to get interest paid in times of economic hardship. You may also have a workplace program for student loan repayment, or you may qualify to refinance private student loan debt at a lower rate.
However, you wouldn't know about any of these options that could make your life easier if you avoid thinking about your student loan debt.
Learn from others
When you have a lot of student loan debt, you may be embarrassed. However, once you’ve researched your options, you’ll feel better talking to friends and family about it.
Whether you’re comparing salary negotiation techniques, student loan repayment options, tips for paying off student loans faster, or credit repair discoveries, there is so much financial knowledge your friends and family can share with you and that you can share with them.
Don’t let debt define you
Student loan debt won’t seem so scary once you decide it’s just a minor part of your life.