How to Start a Business When You Have Student Debt

So you’ve graduated college and are ready to start your own business. You’ve got a lot of new knowledge about the workforce, the marketplace, and what you want. But with a heaping load of student loans, how can you afford to make it all happen?

Burdensome student debt

With precise planning, managing your student loan debt isn’t as difficult as it sounds. We’ve collected data, tips, and solutions from all across the spectrum to help you determine the first steps into achieving your dream of being a business owner.

Here are a few key steps you should follow:

Know What You Owe

This is an important first step!…

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4 Beneficial Tips on Paying your Student Loans Fast

It’s fast to get loans, but to repay them can be challenging.

A good education comes with a price tag. However, millennials and generation Z don’t feel the same. Many graduates of current times face the grueling task of paying off their loans.

Student loan repayment calculation

While getting fast loans is one of the easiest ways to get through a financial crisis, student loans can also help when you need new textbooks or to pay immediate fees when your low on cash.

Here are four tips on how to pay off your loans off fast:

  • Consider your loan to be like a mortgage
  • Plan to pay back the loan
  • Establish a loan repayment fund

1.

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Do Student Loans Stifle Potential Businesses?

Approximately 50% of the American private sector is comprised of small businesses. But due to student loans, the American entrepreneurial spirit has suffered a hit and in 2016, CNN reported that US entrepreneurship has been at an all-time low for nearly 40 years.

College student starting up a business

According to a 2015 study done by Brent W. Ambrose, Larry Cordell, and Shuwei Ma, student loans can stop Americans from financing a startup and inadvertently hamper economic growth. The researchers say that potential business owners are encumbered by student loans that they longer have any way of borrowing more money. The student loan debt in the United States is now over $1.3…

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