Breaking the bank to graduate from school is not fun. As college tuition fees soar, it has become increasingly challenging to fund college education without getting a student loan. While student loans do provide adequate college funding, their costs can add up really quickly.
Make Extra Principal Payments
You will not be able to pay off your student loans before maturity without making extra principal payments. Typically, a student loan repayment schedule exceeds 10 years. And with larger balances it can even take up to 25 years. This means that you will be paying more money on compound interest than toward principal.