She has $500,000 in student loans, as more borrowers are saddled with six-figure balances.
loves her job as a pharmacy manager at Walgreens. But to study at the University of Oklahoma to become a doctor of pharmacy, she borrowed more than $310,000, and said the debt has limited her options. A few years ago, when she tried to buy a car, she said, more than 11 banks denied her a loan.Balancing other bills is a challenge. "I just never imagined being a professional who still lives paycheck to paycheck," she said.
Then he suggests paying off your loans with the highest interest rates first, to save money in the long run. "The name of the game is paying the least amount over time," said Betsy Mayotte, the president of The Institute of Student Loan Advisors, a nonprofit that helps student loan borrowers with free advice and dispute resolution.she said, you can figure out the best repayment plan for you. For example, income-driven repayment plans cap your monthly bill at a portion of your earnings.
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