Fastest Ways to Pay Off Your Tennessee Student Loans

Fastest Ways to Pay Off Your Tennessee Student Loans - Tom Bible Law

Student loans can drag people down after graduation and lead to discouragement when former students start facing other bills. This leaves most students wishing they could find a way to pay off their student debt as fast as possible, the sooner the better. There are ways to do this, but not everyone might be able to pull some of these methods off depending on their financial circumstances after college. If you are struggling with finances and bankruptcy, then consider talking to a Tennessee Bankruptcy Lawyer for help.


Paying off student debt sooner than later is enticing for almost every student who finds out how much debt has accumulated up until graduation. There may not be an approach that works for everyone, but there are a handful of approaches that give you options on paying back your Tennessee student loans faster.

The first method is to start making payments right away. This could mean making small payments while you are still in school through the federal loan website. On their website, look for the one-time payment option. If this does not work for you, you can always start making payments during the grace period right after you graduate. What this does is leave you with less interest adding to the total amount you owe.

Whenever your income improves, the temptation to use that extra money on what you want is strong. However, if you invest even a small portion of that extra income into your monthly student loan payments, then you could potentially pay off your total debt in less time. For people with hectic and busy schedules, there may not always be time to make these different payments.

If you are in this situation, you can choose an automatic debit plan that lets the student loan lender take out a portion from your bank account each month without you having to do anything. An added benefit of this is a reduction in your interest rate. Part of this should be covered in your Tennessee student loan exit counseling.


When none of these fast-paying options work for you, consider looking into Tennessee public service loan forgiveness options. Public service loan forgiveness is a program that completely cancels your student debt, meaning you will not have to pay anything else once the goal is reached. That goal is to make a minimum of 120 monthly student loan payments while working for certain employers.

Employers that could be eligible for this program include government organizations and non-profit organizations that are tax-exempt. Labor and contract type jobs are not eligible. If you can find a job that offers this loan forgiveness benefit, then you could save yourself a lot of time paying off that student loan in the future.


Try asking our lawyers in Chattanooga, Tennessee and North Georgia for help if you are worried about bankruptcy and the financial consequences that could result. You can contact Tom Bible Law at (423) 690-7712 today to talk to a Bankruptcy Attorney in Tennessee for a free consultation. Our legal team of Tennessee bankruptcy lawyers is located in Chattanooga and Tullahoma.

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