Graduates typically study for a minimum of four years, get their degree, and try to get on with their lives until a problem often catches up with them. Their nemesis of loans! It's no news that most college students here in the United States have a lot of student loans. That's why we'll look at how to pay off student loans. If you are a graduate or student, who currently has a student loan or is planning to take one out, then this article is specifically for you. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Set ambitious monthly payments that force you to stay within a tight budget. Forcing yourself to commit to larger monthly payments will allow you to reduce some of your expenses in other areas of your life, to make larger payments. For example, if you owed $38,416 in student loans, be prepared to pay a minimum of $1200 per month, which could leave you with an average of $800 as your monthly living budget. While you may think that $800 would not be enough to cover your monthly needs such as rent, car payments, food, travel, gas and so on, trust me, if you put yourself in such dire straits , you will find a way to survive on 800 dollars. Find other sources of income besides your main job. You can find a job outside of your normal nine to five job at Starbucks, if you work there taking for granted, to take on some freelance assignments like working on film sets, editing short films, doing photography if you have a skill or something you you're good at it or you're passionate about it. Basically, try different sources of income and explore opportunities that will bring you the most money at the end of the month. You can earn some money just by selling old things. For example, if you're a musician and have some extra gear lying around the house that you probably haven't used much, you can sell it to earn even more money to pay off your school loan debt. Overall, if there are ways to reduce expenses, do these things. When you set the goal of wanting to pay off a huge loan fee of $20,000 per year, you should know that you will have to make some changes and some sacrifices to your lifestyle and daily budget. So, you can give yourself a limited budget for social activities and do your best to keep them to a minimum. If you were living alone during this time, you might also consider moving back in with your parents for that year. Doing this isn't something you'll be overly proud of or enjoy, but it will allow you to take out money you'd overspend on rent and food. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay So basically, if you are really set and determined to pay off your student loan, you will have to be ready to sacrifice your things, such as selling them, sacrifice pleasures like moving back to be with your parents, and be willing to go extra miles by having to find two or more sources of income to increase your resource level. If you can do this for at least a year, neglecting anything that will make you want to impress the Joneses, then you'll be able to pay off your student loan in no time..