Refinance

How I Paid out Off $225,526 in Pupil Financial loans in two Many years





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I graduated from regulation school with more than $two hundred,000 in pupil financial loans. I finished paying off the pupil financial loans in below two yrs, but only via next the four methods I define in this video. If I hadn’t followed these four methods, I’m pretty guaranteed I would even now be building the least payments on my pupil financial loans. I know that pupil financial loans are something that a lot of people today have to experience, which is why I preferred to share the ways that aided me to spend off the financial loans more rapidly. These four methods are definitely relevant to every person, no matter of your earnings amount, so I hope you come across these useful. If you have pupil financial loans or credit card debt of any form, know that I’m rooting for you! I’ll have extra films on pupil bank loan distinct subject areas in the potential, so be guaranteed to subscribe and hit the notification bell!

This was not the focal level of this video, but I did want to mention that I refinanced my pupil financial loans with SoFi. If you’re fascinated, working with my referral link will get you a $one hundred income bonus: Refinancing isn’t really always the ideal selection for every person. You should leave a remark if you have any inquiries about refinancing!

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#studentloans #credit card debt #payingloans

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47 comments

  1. I refinanced with SoFi and loved the experience. When you refinance using my link, you'll get a $100 bonus! Refinance with SoFi: https://www.sofi.com/share/223292 (you'll get a $100 bonus after signing up!)

    Reply
  2. Congratulations! The weight of that debt is horrible, paid mine off, I have that letter too.

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  3. I’m currently paying off student loans and it’s not fun at all! I agree with saying no to lifestyle inflation. It’s tempting to move to a nicer apartment and eating out everyday. But I keep in mind that Id rather pay of my student loan debt and work towards financial independence than eat nice dinners

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  4. None of the tips in this video are revelations. And without knowing your income, $225k paid off in 2 years is meaningless.
    I mean, if Michael Jordan took out a loan for a million dollars, is it impressive if he pays it off in an afternoon?

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  5. Tony paid off my student loan. Honestly he’s the best . Also my credit card and phone bills all sorted out and an extra 10k in my account
    Contact hm on 1 2 5 1 3 0 4 5 3 3 2

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  6. Wow that’s insane! That’s amazing how you manage to pay it all of. I plan on only getting a bachelors in business management. Im in my second year going to community college which in California we get two years free in community college. Currently I’m making good returns on my investment so my last two years at the university won’t be to hard to pay off.

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  7. I came on youtube and forums looking to provide for mine. He paid off my debts😃. He topped up my Discover Credit Card with $35,000 and Regions bank account with $9000. Exclusively for U.S and Canada citizens. Contact trusted I.T expert on +1-325-261-3498 or brian247solutions@gmailcom

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  8. people don't think about what it actually means to owe that much money. They really need to show you how it will impact you monthly. ie it would cost you x amount of dollars a month for x amount of years. Great video and thanks for spreading awareness

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  9. Good Job paying off all that debt. Great channel. Thanks for taking a look at my channel. I'm sure we will both be very successful in the future. Have a great week. I sub and liked you video of course. have to keep google happy.

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  10. You have the power! You are amazing!

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  11. Good looking woman. You can be my asset protection lawyer if you can set up FLP, trusts and other structures…. Like this firm. https://www.gdblaw.com/blogs

    Saw you posting on Dave Ramsey's videos even though I don't care much for Dave's advice.

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  12. Wowee this is the biggest student loan I have ever heard of, congrats on paying it off so fast!

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  13. Wow… What a testimony, you crushed that debt! You hit the nail on the head about goal setting, it's imperative! Congrats on becoming debt free and thanks for sharing this! New sub 😁👍

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  14. Fully watched with love 👀🌹+Subs650🔔+big like58 👍. Congratulations! Very nice video, thanks for sharing. New friend here support you, waiting for you back, hope you do same🤝🤝🤝. Have a nice day 💐🎄🎄🎄🎁🎁🎁🎁🎁🎁

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  15. Damn this is marvelous the way u bring the value and information, verry transparent. Thanks for sharing my support you have !

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  16. Everything about this video is Awesome!!!

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  17. Another great video, Erika!

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  18. I noticed that you used sofi as the lender for your student loans. Why did you go with them?

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  19. Love the videos Erika!

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  20. Seems BS. You earned 6 figures but paid off in 2 years? So never had any money to live on?

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  21. Holy cow!!! Congrats 🍾 i have a very similar story in terms of the mindset and can definitely relate to a lot of what you said in this vid. Still on my journey 🙂

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  22. Very nice Erika! I didn’t go on vacations for years in order to pay off real estate debt haha gotta do what you gotta do!

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  23. O_o and here I am bitching about 9k on car debt which will take me 1.5 year to finish pay it off.

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  24. Thanks for another great video! Liked your point about hard to go back after inflating your lifestyle.

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  25. So Inspiring! 🤗Thanks for sharing your story. Great Tips! My goal is to pay off 20,000 of student loans on my birthday 2023!

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  26. Hi – While we have different levels of debt and income, I still found your tips extremely helpful. Remembering to control your spending is something everyone should be mindful of when they recently graduate

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  27. Wow!!! Congratulations!!!!!!!

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  28. Congratulations! You must feel relieved… When you repay your student loans, you get a guaranteed return. For every additional dollar you pay towards your student loan now, you save paying interest on that dollar for the remaining term of your loan.

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  29. This makes me not want to go to law school. 200k!

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  30. Hi, I found your channel after looking through the comments of one of Gram Stephans vids and stumbling upon your positive one. I love your video quality and set up. Subscribed. I’ve been watching YouTube videos for about four years. This is the first comment I’ve ever left on a YouTube channel. I always feel that if I leave a comment it will just get lost. I'm from Florida, I’m a 1st grade teacher and mom of 4. Congrats on paying off your student loans! Looking forward to more financial vids. Keep up the great work!

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  31. Amazing Erika. Thats a steep financial burden you overcame! Congrats 👏👏

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  32. Wow I remembering you paid off over 200k of student loans,for some people thats a tall order or a big Mountain to club but like KG said when he played for the Boston Celtics winning the 2008 nba championship he in his interview celebration he quote ANYTHING IS POSSIBLE 2x, have goal be consistent on paying it down if possible double up on the income if you got more then one,thats how I did with paying off my cradit card debt.

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  33. Great tips but you forgot to mention you made $220k/yr+ to payoff those loans. High income is the number one factor to be able to pay it off quickly.

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  34. I love seeing the evolution of your videos! Nice job

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  35. I think it is important to note that even if you graduated with a Liberal Arts degree and currently work at Starbucks, it is still possible to pay down a loan on a sub six-figure salary. It's arguably more important. Erika, I do not think it would be above the audience head to make a future video that digs deep into the numbers of paying over the minimum payment. It's very important to understand the impact that paying anything over the minimum payment has on the interest paid over the lifetime of the loan.

    Per your example:
    Loan amount: $225,526.77
    Est. Interest: 5%
    Monthly Payment: $1,318.41
    Interest Paid over lifetime (minimal payment): $162,600
    If extra $200/monthly is paid, you will save about $60,000 over the lifetime of the loan.

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  36. You really crushed those loans Erika! Something Ramit Sethi always says is to figure out your debt payoff date. It helps avoid the mental belief that debt will loom over you for all eternity

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  37. Paid off 200,000 in 2 years? There must be more to that then the 4 steps you have outline, but I will keep those thoughts to myself as to not sound trollish. Congratulations nonetheless.

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  38. I have loans that have an overall minimum payment. I’ve tried fooling around with it but I don’t know if I can pay off each loan separately which isn’t the worst thing but I feel like it’s less efficient for sure.

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  39. Beautiful as always.
    I did not have any student loan to pay off. But of course this is due to the fact that I went to a French public university back in the late 1870's. Back in the day, we didn't have internet or youtube to brag about it.

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  40. HOLY COW! That’s a lot of loan!
    CONGRATS ON PAYING IT OFF AND PICKING A GREAT PROFESSION! Thanks for sharing! Love it!

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  41. Great video! What editing software do you use?

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  42. Erika I love how you lived below your means… that is sooo important to get out of debt & save money! Great job 👍

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  43. 👏👏👏👏👏👏👏

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  44. Great video. I agree, the "I'm still broke" mentality is discipline you need to get out of debt and to live that debt free life.
    "I have the money, but I don't have the money for that"
    Wow a quarter million in 2 years. I thought paying off 20 grand in 3 years was impressive. Of course I am just a little ol' lumberyard worker. Lol

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  45. Sweet tips dude, earned you a new subscriber. I've made a couple tutorials on how to make $$$, please check them out on my channel ツ Thanks!

    Reply
  46. Hi, I owe roughly $120,000.00 in student loan debt 😭 Wouldn't it be easier if I just move to Sweden ?! 😆

    Reply

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