The Consumer Financial Protection Bureau reports that U.S. student loan debt exceeds $1 trillion, and student loan debt among seniors 65 years and older has climbed 600 percent in the past decade. If you’re stressed about paying off or managing a mountain of student loan debt, the Pennsylvania Institute of Certified Public Accountants recommends these five strategies to help you climb out of the red.
1. Start now
Student loan debt is not going away, and the longer you put it off, the more interest you’ll pay. The best option is to start making payments as soon as you graduate. Set your monthly payments as high as you can afford to pay so you become debt-free as soon as possible.
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