There Really Is A 'Right' Way To Pay Off All That Student Loan Debt
You can choose the repayment strategy that will boost your psyche or the method that will cost less over time.By Leah Becerra | May 24, 2016
Another school year has ended, and another class of fresh, optimistic graduates is entering the job market — and packing a whole lot of debt.
Looking at the large sum of money owed to a school, the U.S. government or a private loan company can be daunting. But, don't worry; you can do it. And knowing how to do it the "right" way will help make the expense go away with less money and maybe in less time, too.
If you ask financial guru Dave Ramsey what the best way to pay off debt is, he'll refer you to the debt snowball method. Taking this route will leave you feeling great — psychologically — but you might end up spending more money over time.