Post-graduation, managing student loan debt became a reality for a new college graduate. Initially overwhelmed by the burden of $53,000 in loans and growing interest rates, the decision to move back in with parents enabled aggressive repayment strategies. By committing approximately $2,800 monthly towards these loans, drastic lifestyle changes had to be made. Although a struggle, this new financial discipline paid off, allowing the author to anticipate a debt-free future within the year, marking a significant milestone in their journey into adulthood.
As I learned, living in Newport came at a cost, and despite my minimum payments, the interest saw my student loan balance balloon beyond what I owed at graduation.
Deciding to live with my parents was tough, yet it allowed me to focus intensively on paying off $2,800 per month toward my loans.
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