Secret Solution to Slash Private Student Loan Debt

Explore Income-Driven Repayment Plans

While income-driven repayment plans are typically associated with federal loans, some private lenders are beginning to offer similar options. These plans adjust your monthly payment based on your income and family size, making it easier to manage payments during periods of financial hardship. Although not all private lenders provide this option, it's worth exploring if you're struggling to meet your monthly obligations.

Seek Out Employer Assistance Programs

Many employers are recognizing the burden of student debt and are offering assistance programs as part of their benefits packages. These programs can include direct payments to your loan servicer or contributions to a refinancing plan. According to a recent survey, about 8% of employers now offer some form of student loan repayment assistance². It's worth discussing these options with your employer or considering job opportunities that provide such benefits.