Student Loan Debt: A Case Study

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In November 2015, I started off with $13,500 in student loan debt. I had five loans in three different categories. I didn’t start paying my loans until January 2017, by then it had acquired $3,500 in interest, making the total $17,000. That year I made it my New Year Resolution to pay down my loans by 2019.
First, I did my research to see how I could have the loan company lower my interest rate. After a quick phone call to my company, Nelnet, I found out that if I simply auto-debit my payments a minimum of $150, all of my interest loans are lowered by 0.25% for each loan. This alone saves me $1,000 over a 10-year repayment plan.
Second, I followed the debt snowball guide. This method focuses on the loan with the highest interest rate first.

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