How I Plan to Crush $50,000 of Student Debt In 2 Years

A couple of days ago while I was reviewing my class schedule for this semester, it suddenly dawned on me that my college education will have to be paid for someday. Student debt is not something I want to carry with me throughout life. I wasn’t one of the lucky ones who received scholarships (I was too lazy to apply for them), and I’ll be the one responsible for paying those loans off.

How will I possibly pay off $50,000 of debt in a couple of years?

Well, my plan is as follows:

  1. Get a job in my field immediately after (or before) graduating.
  2. Find a side hustle that will generate supplemental income
    • The possibilities with this are endless. It all depends on what I’m interested in at the time and where I’ll be living. I might drive for Uber on the weekends. Maybe I’ll do wedding videography, or perhaps I’ll craft wooden bicycles? Regardless of what I do, that extra income will be essential for me to afford a somewhat decent lifestyle while paying off my debt.
  3. Live in a low-cost-of-living area
    • Thankfully I already do, but I’ll still look around to see my other options.
  4. Use most of my income to pay off debt.
    • This is by far the most challenging one, but I’m already implementing budgeting techniques even though I hardly make any money right now as a college student, and I don’t see this being an issue.

Does this mean I’ll be living off rice and beans and sacrificing my social life for a while?

Most definitely.

But what’s the alternative? Let’s look at the side-by-side comparison:

Student Debt Loans Chart

So if I chose to neglect my student debt by only paying the minimum each month for 25 years, I’d end up paying $36,000 more! Not only that, but that debt would hover over me for an additional 23 years. At least after the 2 years of extreme frugality is done, I can begin to build my net worth.  Otherwise, I’d have to wait 25 years.

I don’t know about you, but I’ll take a couple of years of sacrifice over an entire lifetime of worry and financial stress, any day of the week.

As always, if you liked this post, please share it with someone who can use it. If you have any questions or comments, feel free to send a message or leave a reply below. 😊


  1. There’s nothing wrong with rice and beans 🙂
    That fact that you’re thinking ahead about debt repayment is HUGE. So many people don’t even look at their loan balances until after graduation! Being in a low cost of living area is so so important; reducing fixed expenses are going to make a big difference. Best of luck!

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