How to Fully Pay Off Your Student Loans by Age 25!

How to Pay Off Student Loans Fast! (I Fully Paid Off by Age 25)

Discover how I paid off over $41,000 of student loans and personal debt by the age of 25!

This post is an important one, as I know many you of you reading this most likely have an outstanding student loan balance, or person debt.

I’ve been there myself…

Student loans is an uncomfortable form debt that follows you everywhere.

No matter how much money I was earning, my outstanding student loans were always on my mind. This gave my the motivation to pay off my student loans as soon as possible.

AND, in this post I’m going to reveal exactly how I did it!

How to Pay Off Student Loans Fast! (I Fully Paid Off by Age 25). Discover how I paid off over $41,000 of student loans and personal debts by the age of 25! #Debt #PersonalFinance #StudentLoans

In fact, the money-saving principles I learned through paying off my student loans have turned out to be vital to the way I live my life today.

And, in this post I’m going to reveal the best ways to pay off your student loan in the quickest time possible!

Are you ready?

First things first, let me tell you about my student loans and personal debts…

At this point in my life, I was working two part-time jobs throughout my degree. It was tough, but I had no choice, I needed the money.

No matter what I tried, I found myself broke and struggling, just days after being paid!

Of course, this meant I had no money available to pay down my student loans.

I was aware that I was spending way too much money on food, clothes, and socializing, but I had no idea how to manage my spending…


My total student loans amounted to just over $36,000 and I had personal debt of $4,000 that I managed to rack up on top.

It was time for a change…

Thats when I made the most grown up and sensible decision of my life.

That decision was to to pay off ALL my debts by the age of 25.

I was 22 at the time, which meant I had 2.5 years to pay off $40,000 🥴

If I was going to achieve this, I knew I needed three things:

  1. I needed plan…and a good one!
  2. Income, I needed a way to bring in more money than what I was currently making.
  3. Financial education. I needed to educate myself on how to save and manage money.

Here’s how I paid off my student loans fast!

How to Pay Off Student Loans Fast! (I Fully Paid Off by Age 25). Discover how I paid off over $41,000 of student loans and personal debts by the age of 25! #Debt #PersonalFinance #StudentLoans

1. Understand how student loans work

The hard truth is, many students do no entirely understand their student loans. I know this is true because I was one of those people!

When it comes to taking care of your finances, education is the key! And, the first thing you should look into is the way your student loan is set up.

There are three main factors you MUST know about your student loan…

#1 Auto-Payments

You may or may not know, but with most student loans, you can set up auto-pay and receive a handy discount. This is definitely something you should look into as it can lower your student loans by 0.25%.

#2 Student Loans Contributions

If you’re anything like me, you’re most likely working throughout doing your degree. BUT, did you know that some employers will contribute towards paying off your student loans?

Of course, not every company offers this. And, the employers who do will have their own requirements, such as; minimum number of working hours, attendance and school grades.

It’s worth looking out for the employees who are willing to contribute towards paying your student loan, as it can potentially end up being the quickest way for you to pay down your debts, and earn money at the same time!

#3 Know Your Interest Rates

Not all student loans have the same interest rates. And, some student loans will have fixed interest rates, whereas others may have variable interest rates.

Know your interest rates is important as is can determine which student loans you should pay off first. Ideally, you want to pay off the highest interest student loans first. That way, you’re occurring the least interest overtime.

2. Work out how much debt you have

How are you going to pay off your student loans, if you’re not clear on the amount you owe?

If you don’t know the exact figure of the money you owe, you should take some time to total all your student loans up.

Warning: the total amount of debt is likely to make you feel physically sick!

But remember, this is the first stage of taking control of your money. You need to be able to look at your student debt in the eye!

3. Create a budgeting plan

Now that you know how much student loans and debts you owe, its time to create a budget.

Here are TWO important factors your financial budget MUST include:

FACTOR #1 Your actual monthly income

FACTOR #2 Your monthly expenses (including food, clothes and partying)

Once you have these two things written down, you’ll be able to calculate how much money you have leftover each month to pay down your student loans.

But, WAIT!

What do you do if you don’t have any money left over each month? 😐

Well in this case, at least one of two things must happen…

You will either need to make money OR cut back your monthly expenses, which is exactly what we will discuss next!

How to Pay Off Student Loans Fast! (I Fully Paid Off by Age 25). Discover how I paid off over $41,000 of student loans and personal debts by the age of 25! #Debt #PersonalFinance #StudentLoans

4. Cut back your expenses

Now that you have a budget plan in place, it’s time to strengthen your student loan repayments.

One way you can do this is by going through your budget plan and cutting some of these expenses!

Having all your expenses written out in front of you can be a real eye-opener. You will be stunned at how much unnecessary spending you may be doing each month.

REMEMBER! Even the smallest of cuts can make a significant impact on your savings.

For example…

A $100 saving each money is $1,200 a year! That’s $1,200 extra you can use to pay down your student loans!

Here are some ways to cut your expenses and save money:

Say no to long and expensive fixed cell phone contracts!
You don’t have to spend a hefty price for your cell phone bill each month. By switching to a more affordable and flexible phone service such as Republic Wireless, you can cut your bill down to as little as $12.50 a month!

Walk more often to save fuel.
Ask yourself this. Do you need to drive to work? Do you need to drive to the store? You should only be using your car when you absolutely HAVE to! The rest of the time, you should be walking. This can save you hundreds in fuel each month. PLUS…it’s healthy!

You don’t have to spend money to have frugal fun.
That’s right! There are endless ways to keep yourself and your friends entertained, without throwing away your money. Check out my post on how to live frugally and happy.

Find cheaper accommodation.
Choosing somewhere safe and comfortable to live is essential. That being said, you don’t need to live in a mansion. Finding somewhere comfortable yet small can save you hundreds in rent every month. You’ll also save money on your utility and maintenance bills.

Save money on food and groceries.
If you’re anything like me, food is a major expense! (I love food BTW 🥘).
But, I’m here to tell you that you don’t have to spend insane amounts of money to enjoy food. Over the years I have discovered many tips and tricks on doing the grocery shopping on a budget. And, I’ve saved thousands because of it.

Live in an RV to save money.
Okay, this may sound a little crazy, however, choosing to live in an RV instead of a house is a decision that can save you thousands!
To find out more, check out my post on how to live in an RV to save money. You should also read how to make money while traveling in an RV.

Suggested Reads

If you want more ways to save money and cut down your monthly expenses, check out the following posts:

5. Produce more income

Increasing the amount of monthly income you make is the fastest way to pay off your student debts.

Using some of the ideas and tactics I’ve listed below, I was earning over $8,000 in extra income every month!

This extra income is what enabled me to pay off $41,000 in student loans and personal debts by the age of 25!

Here are some of my favorite ways to make some extra money:

Sell the things you don’t need or use.
With a quick search around your home, you’ll discover that there are many unused items you can sell to earn some extra money. Sites like eBay and gumtree make it easy to list your unwanted clothes, video games, and kids toys.

Want to take things one step further? You can buy things for cheap, and sell them to make a nice profit.

>> 9+ Interesting Things To Buy That Will Make You Money

Start a Blog.
Blogging has changed completely and it’s responsible for a large part of the monthly income I make. With the money I made from blogging, I was able to pay off my student loans faster than I expected to.
And today, it’s easier than ever before to make money blogging. Check out my post on how to start a new blog in just 15 minutes.

Suggested Reads:

Answer surveys to earn cash!
Did you know you can get paid to answer surveys online? You won’t become a millionaire from survey sites, but it certainly will help you to bring in some extra cash each month. I recommend signing up for SwagBucks and Survey Junkie. You should also check out my list of the most reliable survey sites for more tips.

Rent out your spare room.
If you have a spare room in your house, consider listing it on Airbnb. People are also looking for a temporary room to rent; and it can be a great way to bring in some extra money each month.

Be an online friend and earn money.
This may sound a little strange, but you can make money for just being a virtual friend online. Check out this post to discover how to get paid to be a virtual friend.

Suggested Reads

If you’re looking for more ideas to make some extra money, check out the following posts:

6. Pay off as much as possible

If you use a combination of advice I shared above, you will find yourself with a lot more available money at the end of each month.

It can be tempting to spend this money on other things, but I want you to stay focused!


Remember, the aim is to pay off your student loans and become debt-free as fast as possible.

Any extra income you produce from the tactics above should be used to pay off your student loans and personal debts. You’ll thank yourself later.

Once, you’ve paid off your student loans, you can then use that extra income to invest in more money making projects!

How to Pay Off Student Loans Fast! (I Fully Paid Off by Age 25). Discover how I paid off over $41,000 of student loans and personal debts by the age of 25! #Debt #PersonalFinance #StudentLoans

Liz Holmes

My name is Liz Holmes. Welcome to my personal finance blog! In the last few years, I’ve managed to pay off my student debt and build a passive income empire from scratch. I’m dedicated to teaching you how to make money, get rich & reach financial freedom. I’m not a financial advisor, I’m not an expert; I’m one human being sharing my successes and know-how with you lovely people! So let’s make money together! Check out my Pinterest profile.

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