We’re at the end of our managing and paying off your student loans series! So far we’ve covered federal and state loan programs.
And if I may say so myself – impressive lists!
Today – short and sweet – we’ll discuss private sector employers that offer tuition reimbursement and repayment assistance and how to pay faster on your own.
Private Sector Jobs With Repayment Benefits
- Employers that Offer Student Loan Reimbursement – Lots of employers offer tuition assistance, but many are now taking part in a new trend of offering student loan repayment assistance as well. These benefits are not typically publicly advertised, so be sure to ask your current or prospective employer!
- Community Service – Volunteering for certain nonprofit organization can earn you donor-sponsored loan repayment reimbursement. Such programs are facilitated by a group called SponsorChange.org. Donors help nonprofits get free manpower by funding through this program rather than traditional donations. A great idea and a win-win-win for all involved!
How to Pay Faster On Your Own
If you’re ineligible for the previously mentioned programs, or simply feel the tax implications outweigh the benefits, you may be looking for ways to pay your loans off faster on your own. As mentioned earlier, this can be done in two ways – earning more or spending less. Here are some ideas:
Earning More (Side Hustling!)
- Clean houses
- Sell homemade items on Etsy
- Declutter & sell stuff you no longer need
- Participate in surveys and/or market research studies
- Shack up with partner, friend, or parents – unrealistic for many but a choice for some
- Cancel gym membership (jog outside or do exercise DVDs at home instead)
- Bring your own coffee and pack your lunch
- Downgrade your car and/or living situation
- Downgrade your cable and/or smart phone plan
Using every available resource is key in getting your loan balance reduced and/or paid off. What tactics have you used to pay down your loans?
Please share this article with your friends if you found it useful. So many are struggling with student loans and I know it’ll be really helpful to someone if they have a program that might help them out.