like a boss

How To Pay Off Your Student Loans Like A Boss

Paying off student loans is stupid hard to understand and if you are anything like me you probably stick you head in the sand when it comes to college debt.

However pretending that your loans don’t exist won’t change the reality that they will never ever ever go away (not even if you fall into a deep coma). So I have decide to help you embark on a journey to help you beginning paying off your student loans off while still in college.

It may be challenging but hopefully I can make the whole process a hell of a lot easier for you.

how to pay student loans

Things you’ll need to know

  • You have a 6 month grace period that begins following following graduation or being unenrolled for longer than 6 months. (That means if you take a break from school you may be required to begin paying immediately)
  • You begin accumulating interest (~6.8%) on your unsubsidized loans as soon as they are disbursed.
  • Student loans can never be defaulted on not even after bankruptcy. Which means they aint goin’ no wheres
  • The difference between subsidized and unsubsidized. Explanation below.

Subsidized vs Unsubsidized

Subsidized loans

  • Don’t accumulate interest until after your grace period
  • The government will pay your interest during times when you’ve been authorized to defer the loan

Unsubsidized loans

  • You will be charged interest from the time the loan is dispersed to the time it’s paid in full.
  • Should be paid off first!


Related: 5 Reasons Student Loans Are Like An STD (VIDEO)

Related: Top 5 Strangest College Degrees: Hobbies vs Degrees


Things you’ll need to have

  • Patience: First and foremost you’ll need patience because paying off student loans can be ANNOYING to say the least
  • Your social security number: Almost everything you look at requires knowledge of your SSN, so always have it on hand or better yet you’re an adult MEMORIZE IT.
  • An income! You can’t pay off your loans if you don’t have a J.O.B. So find one! Or you could always sell your plasma.

how to pay college student debt


How Do I Find Out How Much I Owe?

You can go about this one of two ways.

Option 1: Go to Sallie Mae

  1. Go to
  2. Create an account or if you have an account already enter your account information.
  3. In the main menu click “Loan and Billing Information’
  4. Click on “Show Details [+]”


Option 2: Go to National Student Loan Data System (nslds)

How to pay your student loans

  1. Go to  
  2. Enter your
    -Social Security Number  (Told ya you’d need it)
    -First two letters of your last name
    -Date of birth
    -Pin number (I don’t know my pin)
  3. Your welcome!


How Do I Pay Them Online?

It took me 2 days to find out how to pay my loans online. Luck for you, I have made it really easy.

  1. Go to
  2. Create an account or if you have an account already enter your account information.
  3. In the main menu click “Pay Now”

If you want to be walked through you can always call Salliemae Toll free: (888) 2-SALLIE (888-272-5543)


What Should I Pay Off First?

If you have a large student debt amount to deal with you might be thinking about how you can most effectively pay it off. It is important to look at all your options and to understand what is priority.

If you are ready to begin making paying on your student loans be sure to pay the larger, higher-interest loans that you have first. While you’re in school you aren’t earning interest on your subsidized loans so it is recommended that you pay down your unsubsidized first.


What happens if I don’t pay my student loan back?

“Students who default on their student loans are reported to credit bureaus, so your credit rating and future borrowing ability will be negatively impacted. In addition, legal action can be taken to require payment through garnishment of wages and withholding of tax refunds.”- According to National Student Loan Data System

In short don’t think for a second that these cumbersome loans will ever someday magically disappear. If you haven’t been paying your loans or if you don’t have a plan it is never to late to start.

But what if I really want them to just disappear

Ok, if you really really really don’t want to pay them back under certain circumstances, the government will cancel all or part of your student debt. This practice is called

Loan Forgiveness.

In order to qualify you have to:

The Peace Corps, created by John F. Kennedy in 1961.


Peace Corps is an American volunteer program run by the United States Government offering working for a 27 months period.  If you travel with the Peace Corps, you will get to defer most of your student loans until after you leave the program. You also might get some of your loans reduced by as much as 70%. Visit their website for information.




pay of your student loans



Americorps is a U.S. federal government program on civic education, education, and public service.If you are willing to commit a year volunteering for Americorps, you get $4,725 to pay off your college debts,and a stipend up to $7,400. For more information, visit their website.



paying of student loans



Military Service. If you join the Army Reserve or the National Guard after graduation, you can receive up to $20,000 to pay off your loans.If you are willing to accept additional risk, ask to be stationed in areas of hostility to get even more money. While I can’t say I would take this route, I commend any individual man/woman/gay/straight who does.





loan forgiveness

Teaching is a great way to qualify for loan forgiveness. Teach for America,for example, selects college graduates to teach in low-income communities and offers $4,725 to pay off your student loans for each year you work for them. Visit their website for more details.




There are many others as well.

Remember to ask: How much of your loans will the program pay? Many programs will help pay for loans and grant you the ability to defer payments but you often have to do the legwork in applying for deferment, and if you have private loans, you’re still responsible for paying those if you can’t defer them.

Related: 3 Amazing Ways To Use Parents During College

Related: 5 Ways to Get Work Done without Actually Working


 Why Student Loans Hurt Your Credit Score:

Paying off your loans isn’t going to be easy. However it shouldn’t have to be confusing. We are all in the same boat when it comes to paying off these bad boys, so we mind as well band together.

Leave your questions and advice about paying off student loans in the comments below.


Maximillian Garland | Bright Futura Columnist

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7 Comments on “How To Pay Off Your Student Loans Like A Boss

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  3. What if you accept the subsidized loan and begin making payments while still in school, Does the interest rate pile up and that's still something you'll have to pay after the grace period?

  4. Thank you for the information If there's one obstacle that prevents most millennials from investing either independently or with a financial adviser, it's the burden of college loans. These loans weigh down graduates, preventing them from seizing new financial opportunities until they clear their debt. In 2012, the Federal Reserve Bank of New York reported that the average outstanding student loan balance was $24,301, with 10 percent of borrowers owing more than $58,000.

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