How to Not Stress About Student Loans

Many people have to deal with student loans. The Federal Reserve Bank of New York shared that the U.S.’s student loan debt has exploded to more than $1.7 trillion. That means many people struggle to make their monthly payments and feel trapped in a cycle of never-ending debt. It’s clear why student loans can cause a lot of worry among young people.

But what if we told you that you don’t need to let student loans run your life?

Stress About Student Loans

Here are some tips on how to handle this stress and take control of your money matters:

1. Be aware of your loans

Being knowledgeable gives you strength, and to start getting a grip on your stress, it’s important to know the details of what you owe. Bring together all your loan papers and write down a list of the companies you pay, known as loan servicers.

For an extensive list of your federal loans, the National Student Loan Data System can be valuable. With that information in hand, you can figure out how much you owe in total, the interest rates on your loans, and what your baseline monthly payments should be.

The average amount of student debt in the U.S. is $28,950. By understanding the specifics of your debts, like how much interest you’ll pay and the terms for paying them back, you can craft a financial strategy that fits your life.

Student Loans

2. Create a Budget

After you understand what you need to pay back for your loan, it’s essential to make a practical budget. This lets you track where your money is going every month and find places where you can spend less.

You can find plenty of free apps and websites for budgeting, or just use a basic spreadsheet. Be sure to include essential costs like rent or mortgage, groceries, transportation, and bills, along with money spent on fun activities and dining out.

Having a budget is super helpful. It shows you the best way to set aside money to pay off your loan while still taking care of all your necessary expenses. Keep in mind that over half of college students graduate with some debt; you’re not alone in dealing with this.

3. Explore repayment options

The U.S. government has different strategies for federal student loans that can make them easier to handle, depending on how much money you make and what you can afford. The Education Department ( has a tool that can figure out what your monthly payments might look like based on how much you earn.

Some plans might let you off the hook for any remaining debt after you’ve made timely payments for a certain period. It’s worthwhile to look into these choices and pick the one that fits your financial life the best.

4. Don’t neglect self-care

It’s crucial to be smart about money, yet ignoring your health can make stress levels go up. It’s key to put time aside for things that calm you down and bring you joy.

Whether it’s hanging out with family and friends, staying active with workouts, or doing activities you love, making time for these activities is vital. A well-rounded life with less stress is the secret to handling money worries better over time.

Stress About Student Loans

5. Seek professional advice

Chatting with someone about the financial stress you’re feeling can take a weight off your shoulders. It’s a good idea to share what’s on your mind with a buddy, relative, counselor, or someone who knows a lot about finances. Plus, there are loads of places on the internet, like forums and groups, designed just to help folks dealing with student loans where you can chat with people who get what you’re going through.

Groups such as the Institute of Student Loan Advisors (TISLA) give out free tips on how to handle student loans, including how to get them forgiven, what to do if you’ve defaulted, and your options for paying them back.

Check them out at the Institute of Student Loan Advisors (TISLA). If it all seems like too much to handle alone, remember that it’s more than okay to ask for a hand.

6. Consider Forgiveness programs

Loan cancellation plans are set up by governments or groups to help people with their loans by canceling all or some of what they owe. These plans are made to help those who find it tough to pay back their loans because they don’t have enough money, have made specific career choices, or have other special reasons. A well-known type of this program is student loans.

They aim to make it easier for those who have finished college and work in specific jobs, like public service or teaching. By helping people take care of their loan payments and follow their career dreams without money troubles holding them back, loan forgiveness plans are important in keeping the economy stable and looking after the community’s well-being.

How can you find out if you qualify for a student loan forgiveness program?

Take teachers and healthcare workers, for example. They often qualify for these loan forgiveness plans because their work is so valuable to society.

To find out if you qualify for a loan forgiveness program, you’ll need to consider several factors:


If you work for a government organization or another type of not-for-profit that provides public service, you may qualify. Profession: Teachers, nurses, doctors, and other medical professionals typically have access to specific forgiveness programs.


If you have a disability, you might be eligible for loan discharge. Repayment Plan: Being on an income-driven repayment plan can lead to forgiveness after a certain number of payments.

Grant Recipients

Grant recipients with loans held by the Department of Education might have additional options for forgiveness.

Direct Loans

If you have federal direct loans and have made 120 qualifying, on-time payments, you could be eligible for Public Service Loan Forgiveness (PSLF).

Student Loans
 Student Loans

7. Stay Informed

People with student loans need to keep up with the rules and laws about them. Doing this helps you handle your loan better and find out about ways you can pay it back or even have it forgiven. When the government makes changes, it can make a big difference in how your loan works. There might be new options for making things easier or wiping out your loan.

If you know what’s going on, you can make smart choices about your money and make sure you don’t miss out on programs that could help you with your payments or forgive your loan. To stay on top of things, you should regularly look for trusted updates and talk to the people who manage your loan or a money expert. This will help you keep track of changes and deal with the tricky parts of having a student loan.

8. Organizations That Can Help

Stress About Student Loans

National Foundation for Credit Counseling (NFCC)

The National Foundation for Credit Counseling gives you free advice on managing money and learning about finances. They also help with handling student loans.

American Consumer Credit Counseling

It offers free advice on credit and guidance on how to deal with student loan debt.

Student Debt Crisis

The nonprofit group, Student Debt Crisis, fights for changes in student loan policies and helps students by giving them tools and support to manage their debts.

Keep in mind that you’re not going through this by yourself. There are millions out there struggling with the burden of student loans, just like you. By getting a grip on your money matters, considering different ways to pay back your loans, and making sure to take care of yourself, you can lessen the anxiety and pave the way to a more hopeful money situation.


Dealing with the worry of student loans is all about taking control wherever possible. Get to know your loans, set up a budget, look into different ways to pay them off, and don’t hesitate to ask for assistance if you need it.

Keep in mind that there are groups and tools out there ready to help you. By approaching this the right way, you can handle your student debt without letting it take over your life.

I'm Asif Khan, just your regular blogger and content creator guy next door. In this little corner of the internet that I call my own, we're going to explore all the cool ways you can make money online.

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