College is an important part of the education system; the only problem is it is the farthest thing from free. To think, there was a time we took our free textbooks for granted! For most, the only way to afford college is to take out the dreaded student loans. The jokes about paying off your student debt come by the thousands in meme form, but maybe it isn’t as terrifying as the Internet makes it out to be.
Refinery 29 took the time to create a quick informational video on just how student loans work and the best way to tackle them! Sallie Krawcheck, the CEO and Co-Founder of Ellevest, a digital advisor for women, helped a few lucky women understand their student debt better! She started off by stating that the most favorable debt rate is below 4%, anything above that is in the danger zone. Her best advice is to call and request a lower ARP, this makes paying off your debt more manageable. She even gave some shocking advice regarding filling bankruptcy, because this cou0ld immediately have your student debt discharged.
Even if you don’t get total bankruptcy you can have up to 40% of those loans reduced! Hey, you have to take what you can get! For the complete low down go ahead and check out this video, let us know what you think in the comments below and if you found it helpful!
