Student Loans – How Nurses can Pay them off Quickly

Nurses graduate with a larger amount of student debt than the average college student by as much as $15,000. Average college students have around $35,000 in student debt, whereas nurses have as much as $50,000 in student debt.

While it seems like a huge number for a profession that’s all about helping people, nurses can pay their debts off faster with a few simple steps.

How to Pay Student Loans off Faster

If you have a goal to pay your student loans off faster than the minimum payments allow, consider any of the following steps to get you started. You can even combine a few of the steps to make the most of your money.

  1. Make extra payments

There’s never any penalty for making extra payments. Make them once a year, every month or whenever you can – there are no rules. Get a bonus at work? Apply it to your student loans. Earn a tax refund? Don’t spend it; instead, invest in your student loans. If you’d rather, add an extra amount to your payment each month, even if it’s $10, $20, or $50 a month to your regular payments, you get out of debt faster.

  1. Make bi-weekly payments

Split your monthly payment in half. Let’s say your payment is $300 each month. Instead, pay $150 every two weeks. You pay the same dollar amount each month, but when you pay every two weeks, you make one extra payment each year because there are 26 bi-weekly payments in a year. You get yourself ahead without doing anything.

  1. Check with your employer

Some employers help with student loan debt. Whether you work in a specific department that needs help or you volunteer, there are opportunities for help with student loan financing that many nurses can take advantage of. When you look for a nursing job, ask about student loan assistance to see if it’s one of the benefits they offer.

May 12, 2023

Natasha Osei

Passionate Nurse Practitioner | People person
You might also be interested in these
5 Easy Ways to Detox Daily

Did you know daily detoxification can help you feel refreshed and rejuvenated before and after your long nursing shifts? Keep reading this blog post to learn five easy ways to detox daily.
How to Make Nurses’ Month Special

It's Nurses’ Month, a time to celebrate nurses for their dedication to healthcare. If you're wondering how to make this year's celebration special, keep reading to find out how to make Nurses' Month special.‍

Subscribe to our newsletter

Stay up to date with our newest collections, latest deals and special offers! Be sure to stay in touch to catch the hottest items for you.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Accepted Payments

Copyright @2021. Natty Nurses.
All rights Reserved