Heavy school debt weighing post-undergrads down has been the topic of many financial blogs and news wires for several years. I even saw on a major news service last week that more and more seniors are carrying debt, even school debt, into their retirement years. I pastor a small congregation where it's not uncommon for my congregants to carrying large sums of school debt into later earning years.
So, what could we do to begin to REALLY tackle the issue of school loan debt? I think a post-graduate assessment at five years is in order. These are years where families, many times are being started, wage earning is beginning to tick up, and careers are being built one day at a time. Post-university years are exciting days because lifetime formation is taking place. As I said, many times children enter into our lives and life begins to move very rapidly. So, we need to slow down and ask, "How will I pay these school loans?"
My wife and I had a bit of outside help paying school loans when we were newly weds and with that we set our goal at being school loan debt free by age thirty. We achieved that goal. However, if you're on your own and you are five-years out of the university and not already in a grad program, I would recommend you look into The Infinite Banking Concept as taught be Nelson Nash in his book Becoming Your Own Banker. I teach this material to people and I know that if your goal would be to eliminate school loans that we can come to the table with reasonable expectations of how to implement your own bank in an effort to eliminate school loan debt. Call me at 816-588-2328 or mzimmeribc@gmail.com. Let's get this school loan debt knocked out ASAP!
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