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chocolemon

Edited 20 Aug 2024

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What is the best way to pay off student loan?

I will be paying off my student loan which amounts to 40k+ soon. I know that most cards exclude school fees. However, are there any loopholes or cards that allows for miles, cashback for school fees?

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Use cash to pay the loans, you don't want to create more debts with credit cards. As you pay, try to save the first $1000 as a small emergency fund. Then continue to build the fund and keep paying back the loan regularly.

Spend as little as you can in the first 3 years of work. Take up a side hustle when your new job is a bit more stable.

Hello, not that I know of any cards that could do this. However, I can relate that paying school loans can be stressful at the start due to the interest rates. My suggestion for the best way to pay would be to start budgeting early and come up with a realistic plan on when you can repay your student loan. Starting with a goal is important as the interest rate will pile up while time is ticking. Good luck!

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