anyone trying to rapidly pay down student loans?

[Anonymous]

Anyone found a way to pay off student loans faster? Trying to pay these off ASAP.
It's true I could probably not have gotten the job I have now without my education, but at this point I'm just sick of it. I have friends who had their college paid for and they have no idea how lucky they are.

Take on extra jobs?

At this point I'm considering trying to live off of one paycheck per month and take the whole other paycheck and dump it all into loans. Has anyone tried to do something like this? My expenses are relatively low--cheap rent, no car payment, low insurance, no credit card debt--just these pesky high-interest student loans doing nothing for me except sucking me dry.

What have you guys done/are doing now?

[Anonymous]

Mine are like $70 a month. Set on auto pay.
I Send an extra payment when I feel like it.

You need to make sure you are saving before tossing to much towards SL debt. I am at 7.25 Fixed

Yeah- It is higher than my mortgage but still lower than a HELOC, I still make better use of savings in investments than 7.25

Google stock is back up to $560 a share. Might be time to pull some out of it. Hmmmmm

[Anonymous]

yeah I've thought about that. I have a little cushion in a high-yield savings (enough to hold me over for a short while if I lost a job). I know it's important to have a little stash there. I could stand to put more there.

My loans are about 8% variable, so they change with the market...my fear is they are only going to keep going up (they used to be @ 4% 2 years ago) Now look how high they are! Blasted private loans!

Do you advise I consider doing some short term (non-401K, IRA) investing to earn better interest then student loans and then try to pay them off later?

[Anonymous]

I say max out your IRA or 401K contributions.

I love the 12K off the top at tax time(me and wife) each year.

If you are already doing this. Open a brokerage account and have a little fun.

I could go into more detail, but this is not an investment forum. PM me if you would like to know some of the things I do.