What's the fastest way to get rid of student loans?

[ebaycj]

OP:

All joking aside, what you said in your OP is the ONLY way to pay it off quickly without defaulting in some way, shape, or form. I had to do that for 3 years. But, you know what, looking back on it, it was a little rough being so financially tight, but it was a VERY good thing, and I'm VERY glad I got it out of the way early. Better to live like a pauper when you are just out of college (and it is excusable) than have to do so later in life, and look like a total loser.

That being said, Here's some ways that could be quicker:
1. Do what you said in OP, but live with your parents for a year or two (no rent).
2. Transfer to CC and declare bankruptcy / move to another country / both.
3. Win the lottery / get lucky gambling / get lucky in the stock market.
4. US Military loan payment program.

 

[Gunslinger08]

Consolidate them. 70k at a decent rate is only around $290-$300/month over 30 years. Pay the minimum payment now and see how your budget works out for a few months. If you have some extra money and the debt really bothers you, then dump some into the loan payoff. Honestly, rates are low enough that I probably wouldn't do this. I'd pay off higher interest debt (if any) and invest in the market (especially in retirement accounts, since you're probably in your early 20s).

 

[lifeobry]

I plan on continuing to live under $10K a year until my loans are paid off. Poverty isn't so bad really.

 

[ebaycj]

Originally posted by: lifeobry
I plan on continuing to live under $10K a year until my loans are paid off. Poverty isn't so bad really.

Spending under $10k per year of after-tax money for incidentals (rent/mtg doesn't count, everything else does) was the key for me. Granted, I had very cheap rent / mtg at that point as well.

 

[Chriscross3234]

The one thing I dread for when I graduate... Thank god for cheap in-state schools and this area is booming with jobs in my degree. My plan is to get cheap 1-room apartment, no new car, no new anything, and pay off loans for at least a couple of years before upgrading anything in my life.

 

[ctcsoft]

Originally posted by: scorpious
Obviously I could:

Move to some other country and tell the loan companies to suck it?

Might as well this country is goin down the tubes FAST. I'll love to see good ole america in 10yrs from now. Its going to be shambles.

The population is increasing too much too fast and their is not enough good quality jobs left out there.

You can also try starting your own small business doing something. Take all those profits and pay down your loans. Basically just a 2nd job but instead of making a little, you can make alot depending on what type of business you start and if it succeeds.

And by business I mean something reasonable that doesn't take alot of $$$ to startup. Some low risk/high yield.

 

[Born2bwire]

Originally posted by: ctcsoft

Originally posted by: scorpious
Obviously I could:

Move to some other country and tell the loan companies to suck it?

Might as well this country is goin down the tubes FAST. I'll love to see good ole america in 10yrs from now. Its going to be shambles.

The population is increasing too much too fast and their is not enough good quality jobs left out there.

You can also try starting your own small business doing something. Take all those profits and pay down your loans. Basically just a 2nd job but instead of making a little, you can make alot depending on what type of business you start and if it succeeds.

And by business I mean something reasonable that doesn't take alot of $$$ to startup. Some low risk/high yield.

Yeah, the ever decreasing population growth of 1% is a killer.