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Does anyone have any suggestions for paying off HUGE student loans? My BF has over $70k in student loans, a 450/mo car payment, $1k in CC, and his rent is $200/mo. Recently, he "paused" his student loans for several months to pay down $4-5K in credit card debt - which I guess isn't bad. Trouble is, he is on the 30-year repayment plan, at $500/mo.

There's no secret to paying off student loans, you just have to pay them. While putting his payments on hold may be helping him in the short term, it is hurting in the long run as interest continues to accrue.

$450 car payments are completely out of line for some one with his debt and income. Sell the car. Buy something used with cash so there's no payments and minimal insurance. Put all of that money into the student loan (after he pays off his credit card entirely, of course).

Has anyone had any success with convincing a significant other that "a little more a month will cut your repayment years in half)"?

Paying a little (or a lot) more each month (or whenever you can afford it) is the ONLY way to shorten repayment. There's no magic to it.

He doesn't want to talk about it, as if it will quietly go away.

By the way, I've been on the Debt Elimination bandwagon for a couple years now, and proudly have no debt (except $5k remaining on my house).


You should be aware that student loan debt is the one type of debt you can "inherit" by becoming married. If you get married and he is in default on his student loan, any tax refunds you may be expecting will be impounded to pay his student loan debt.

Good luck,
NellieD
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