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Home Personal Finance

I paid off $40,000 of student loans in 2 years thanks to 3 smart habits

Trade News by Trade News
May 26, 2020
in Personal Finance
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I paid off $40,000 of student loans in 2 years thanks to 3 smart habits
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  • To pay back my student loans, I lived on a college budget while earning a salary.
  • I worked full-time while earning my MBA, which had an estimated $90,000 cost of attendance. I graduated with $40,000 in student loans.
  • I put every windfall, no matter how small, toward my debt, and scheduled extra payments.

When I transitioned from Cub Scouts to Boy Scouts, I never imagined that I was on a path to earn a full-ride scholarship to the University of Colorado thanks to the Madden Leadership Scholarship program, a scholarship provided by the Denver Area Council of the Boy Scouts of America.

Mr. Madden’s large donation to the Boy Scouts allowed me to graduate debt-free, but I wasn’t able to find anything nearly as valuable for grad school. For my MBA at the University of Denver, I had to foot the vast majority of the bill, which included about $70,000 in tuition and fees, on my own.Advertisement


I used a combination of strategies to pay off those loans starting in school. By putting…



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