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exactly How quickly should you spend your student loans off? Two cash professionals share their tales

By |mars 25th, 2020|

exactly How quickly should you spend your student loans off? Two cash professionals share their tales

Bridget Casey and Robb Engen are two of Canada’s best-known money bloggers — and, like at the least 1 / 2 of college graduates in Canada, that they had student education loans.

Casey, 33, the creator of monetary literacy site cash After Graduation, finished her degree that is undergraduate with $21,500 in federal federal government student education loans after which utilized a personal credit line to fund section of her MBA. Engen, 40, a fee-only economic consultant and dad regarding the Boomer and Echo cash we blog, left college with almost $30,000 with debt.

The tales of the way they repaid that load could be more different n’t. Yet, the advice they need to today’s graduates is remarkably comparable.

Burning that student financial obligation: Casey’s tale

Whenever Casey completed her undergraduate study she was determined to incinerate her stack of pupil debt at record speed — and she did. In only 22 months, at age 27, she had were able to repay the national federal government in complete, a feat that helped propel her to the very best echelons of Canada’s money blogosphere.

Burning a lot more than $20,000 in student education loans in under couple of years wasn’t simple. To turbo-charge her earnings, Casey arranged a chemistry tutoring gig on the top of a full-time work. In addition, she’d act as a freelance author into the nights and use up odd jobs she’d find on Kijiji during the weekend.

“ we remember one time … my only task would be to go scan every item when you look at the child area in the Bay and I also got, like, $18 an hour. […]