4 Creative Ways to Pay Down Your Student Loan Debt

By Brittany Hawes on June 4, 2018

Knock, knock! Who’s there? Student loans. Student loans who? The deadline to start paying down your student loans has arrived!

You might wish you could slam the door right in the face of your student loans and barricade yourself inside, but each of us took out these loans knowing that we’d have to start paying them back the money back one day. That’s not to say that paying back loans isn’t going to be tough. For students just emerging out of college and heading into the real world, student loans (and their interest) can build up and become a monster-sized problem that we’ll be seeing into our late fifties if we don’t handle them correctly.

ways to pay down student loan

Image via Pixabay.com

You could go the more traditional route of paying back loans by setting aside a large amount of money from your paycheck every time you get paid and using that money to pay down your student loans. However, as many of you are aware, this can make payday a little lackluster and force us to skimp on enjoying some of our favorite hobbies and activities.

Having to pay down your student loan debt doesn’t have to be an entirely horrible experience. There are many ways a person with student loan debt might try to alleviate the stress of having debt, and not all of them will to cause you more stress.

Below, you will find 4 creative ways to help you pay down your student loan debt. Each of them are tried and true ways to save you money. Of course, that money can go towards your student loan debt. Remember: the quicker you pay down your student loan debt, the less time spent with it dangling above your head, and the more time you’ll have to enjoy using your money on the things you want and need.

Tip #1: Do a Yard Sale

Yard sales are an effective way of getting rid of the old and putting your thoughts into something new. A giant yard sale will offer you a chance to clean out your home and earn a lot of cash. Yard sales might seem outdated, but I can guarantee you that if you were to have one, and spent a proper amount of time setting out signs and advertisements, your sale would be a big success.

Don’t be stingy! If you have no particular sensible reason for keeping an item of clothing or something else, put it out for sale! You’ll get better sales with a wider variety of things.

Tip #2: Do Freelance Work

Freelance writing is a fun and interesting way that you can earn money to pay down your student loan debt, fast and easily. As unexpected as this next sentence may seem, it’s actually quite easy to become a freelance writer. That’s because of websites like Upwork.com. They allow for employers and help-seekers to post on their website with a description of the job how much you can expect to be paid, as well as a glimpse of what skillset you’re going to need in order to complete a new skill.

Freelance writing can seem like a dull job, but it’s all about letting your personality shine through your writing. You can make any article interesting with the right attitude!

Tip #3: Sell items on eBay

It may not be the fastest way to earn money, but—hey—it’s still money in your pocket. Selling items on eBay will clear up any clutter you have in your dorm or apartment and give you the chance to start earning big bucks.

Some best-selling items on eBay include clothing and video games, so if you have either of those things lying around, now’s your chance to give them to a stranger so they can bring new life to your old item.

Tip #4: Download a coupon app

It’s not just for the old ladies who like to hold up the line at the front of the grocery store. A coupon-app is perfect for students looking to save a few bucks or two and want to pay down their student loan debt.

Apps like Groupon will allow you to look at the shopping deals from various places in your area. Then, you can mark and decide which one you feel like using. You can also download coupons directly from the app and use them in-store versus buying them directly through the app.

It’s all about your preference, my dear readers!

What are some other creative ways for students to pay down student loan debts? Share ith others by commenting below!

Hi there! My name's Britt and I'm a senior majoring in English major at Florida State University. I have these crazy, big dreams of traveling the entire world and writing novels in my spare time. I love music, food, and the Japanese culture. I plan on teaching English in Japan upon graduation from Florida State. My first YA novel, Twisted, was published by Deep Sea Publishing Company in 2014. It won a Readers' Favorite Book Award that same year. Alongside schoolwork, I'm working hard on the second book in the Twisted series as well as a number of other novels.

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