Affordable Student Loans: The Guide

Affordable Student Loans – Is There Such A Thing? The answer is yes, of course you are, there are many methods available today that make it extremely easy to pay off a student loan, even a larger loan.

This article will give you a little more information about the methods that are available to make your student loans more affordable or, in other words, you can make a molehill on the mountain.

Let’s take a look at some ways to make this happen:


The great thing about deferment is that it will allow you to complete your education and only start paying off your loan when you graduate or stop studying. This will take a lot of pressure off the 4 years you are studying.

One of the things to consider is that you should be aware that there will be an accrued interest component and this will increase your overall costs. In other words, your original loan of, say, $ 15,000 could turn into a debt of $ 25,000 by the time you start paying it off. (Something about ‘no free lunch’ comes to mind.

Difference: delayed or normal

Although obtaining a deferred loan has its advantages, the fundamental thing is what we should think about. If we were to take out a normal student loan of, say, around $ 20k, then depending on the term and interest rates, our payment could be around $ 300 every month,

If we look at the same loan and apply the deferred payment method, when our first payment is due, it could be around $ 400 per month or around 25-30% more.

It’s a great idea to use a loan calculator and see all the options that are available to you. Pencil and paper, a calculator and a few cups of coffee is what you will need.

To consider

Another thing worth considering is the fact that you can use your free time during your study years to help you generate passive income.

There are many types of methods to raise additional funds, here are some of the methods that I have personally used with great success:

Online business – You can start your own business website online, there are many methods that are really free to set up and you can also promote these sites using available free methods.

E-books – Did you know that you can publish a book on the Kindle platform for free? It costs nothing to use this huge platform to make money, you don’t need a website, you don’t have to pay for traffic, in fact the only thing you need to publish your book on the kindle platform is a Word document of your book and a jpeg image of the cover.

Fundraising – Set up your own crowdfunding website, in fact you can get simple software that will transform your website into your own crowdfunding site. The advantage of this is that you will be able to keep all the funds you collect without the fees.

I hope you have found some useful ideas and I wish you the best of luck with your studies.

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