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If you’re having trouble figuring out how to pay your student loan, all you need to do first is analyze your financial situation. There are several methods you can choose, and it depends on how much money you can currently generate or are expecting to have in a number of years.

To start off, nothing is quicker in getting out of a student loan debt than the standard monthly payment. This is especially attractive for graduated students who are already employed and are bringing home good monthly paychecks, since this method usually has high monthly fees. But under the best circumstances, you can wipe your slate clean in around 10 years or less.

If you are employed but have a lesser wage that’s expected to increase over time, you may opt for graduated payment. With this, the required payments begin with a small amount, and will steadily go up usually every 2 years. This also a valid choice for people in seasonal businesses. Since their income varies, the monthly payment will follow their current financial pattern.

There is also a way to break down your payments to the least possible value every month. The long-term payment method requires you to do so for a period of time. It is to be noted that this may be detrimental to you in the long run. Since the payment schedule lasts for 30 years at the most, it’s possible that you would pay double the amount of your initial loan after all is said and done.

Finally, there is the popular option of student loan consolidation. This is a recommended method for those with multiple student loans, as you will have the ability to combine them all up into one huge loan. It is also attractive in that the resulting sum will be of a lesser amount compared to paying all loans separately.

A lot of options are available to you in paying off your student loan debt. Just use what you think is best for your case, and you will at least have a neat guide in getting rid of that debt.