This week we’re going to take a different look at paying off student loans. Let’s look at the extent some folks will go through to pay off their loans early.

According to CNN Money, this guy risked his life to pay off his loans.

The article goes on to mention:

“I paid off $108,000 of law school loan debt,” said McGregor, 31. “All I had to do was put my life on the line.”

This guy joined the arm after he realized that he couldn’t pay off his student loans. He couldn’t find work and was struggling to make payments. He did what he had to do. Instead of complaining, he took action. Taking action always has and always will beat doing nothing. Doing nothing is pathetic.

How far would you go to pay off student loans?

Now that you heard of this one story, how far would you go to be debt-free?

I’ve seen friends do all sorts of crazy things to reach this goal.

One of my friends worked two jobs, 7 days a week just to reach freedom. He worked nights on the weekends so that he wouldn’t go out and would be forced to save money. It wasn’t the best for his social life, but it sure helped him reach his goals.

I had friends that worked insane hours in the summer just so that they could save enough money to cover tuition and expenses the next term. It wasn’t the best way to spend a summer, but it sure beats graduating with debt and being frustrated with the world.

What are some viable options for student loans?

How do you deal with a hangover? Don’t get so drunk in the first place!

I personally believe in being proactive. Why wait until it’s too late? There’s nothing that can be done at that point?

You can be proactive in the following ways:

  1. Apply for bursaries. There are so many sources of funding. Don’t let them slip you by. Apply for them and get your hands on some free money.
  2. Work in the summer. Instead of tanning all day, you might find it worthwhile to spend your summer working. The money you save will help you graduate a free person.
  3. Apply for a program with work terms. These are key. Not only do you get experience and all of that good stuff, but you also get paid!
  4. Work on the side. What’s stopping you from working? You can spend your evenings and weekends working so that you’re not flat broke when it’s all said and done.

Student loans aren’t pretty. On side, they can help you land a dream job. On the other side, they can bring you down and keep you in debt for a long time.

How far would you go to pay off your student loans?

Martin Dasko

Martin Dasko