Student Loans

Which Student Loans To Pay Off First – Paying Off $102K In Student Loan Debt

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Which Student Loans To Pay Off First – Most Popular?

Americans have nearly $1.9 trillion in student loans. And it will take 18.5 years for the average person to pay off their college debt.

Mandy Velez did not want to wait that long. Velez, 28, graduated from the University of Pittsburgh in 2013 with more than $75,000 in student loans. The Philadelphia native had taken out a total of five loans ranging from $7,500 to more than $32,000, with interest rates between 6% and 11.75%.

She calculated that if she made only the minimum monthly payment of $300, it would take her until 2046 to pay off her balance and cost an extra $96,000 in interest. Velez’s first journalism job out of college paid $40,000. Subtract New York City rent, along with living expenses, and she would not have much spare money to throw at her debt.

Watch the video above to learn more about the method Velez used to pay off her student loans. 

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Here’s how this woman paid off $102,000 in student loans in 6 years

Thanks for watching the Which Student Loans To Pay Off First video!

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28 Comments
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28 Comments

  1. Cookie Stew
    July 25, 2021 at 5:07 pm

    Schools are charging unrealistic price for majors that are not proportionate to its relative value

  2. Bianca Bolanos
    July 25, 2021 at 5:07 pm

    how did she do it?

  3. e36s54
    July 25, 2021 at 5:07 pm

    Dave created the snowball, right? If so, gotta cite Dave.

  4. Meg G.
    July 25, 2021 at 5:07 pm

    Smart cookie

  5. manny flores
    July 25, 2021 at 5:07 pm

    Paid 65k student loan and 180k home in 8 yrs.

  6. Lataya Rolle
    July 25, 2021 at 5:07 pm

    I Need Helpppppp!!!!!

  7. Matthew Chan
    July 25, 2021 at 5:07 pm

    Soooo happy for this girl. I'm still paying for my student loan, and she really cheers me up.

  8. Ridwan Ali
    July 25, 2021 at 5:07 pm

    Funeral lol 😂

  9. Ridwan Ali
    July 25, 2021 at 5:07 pm

    $75K

  10. Ethan Deklin
    July 25, 2021 at 5:07 pm

    versatile credit patchup boosted my credit score within a short period of time and removed student loan late payment off my credit report and finally I got $5,000 in paypal thru paypal flip they are incredible,you'll need to go visit their website they are the best team to solve any financial crisis you going thru right now all you have to do is type versatile credit patchup on google to contact them thru their website

  11. Larry Hale
    July 25, 2021 at 5:07 pm

    versatile credit patchup boosted my credit score within a short period of time and removed student loan late payment off my credit report and finally I got $5,000 in paypal thru paypal flip they are incredible,you'll need to go visit their website they are the best team to solve any financial crisis you going thru right now all you have to do is type versatile credit patchup on google to contact them thru their website

  12. Alexander terry
    July 25, 2021 at 5:07 pm

    versatile credit patchup boosted my credit score within a short period of time and removed student loan late payment off my credit report and finally I got $5,000 in paypal thru paypal flip they are incredible,you'll need to go visit their website they are the best team to solve any financial crisis you going thru right now all you have to do is type versatile credit patchup on google to contact them thru their website

  13. Four Wheel Finance
    July 25, 2021 at 5:07 pm

    They really need to educate high school students more, it's crazy how an 18 year old who can't even have a beer can sign up for six figures of debt. Counselors and parents need to step it up!!

  14. Almakio Musukuma
    July 25, 2021 at 5:07 pm

    I hate loan money and credit

  15. Josh Is On A Mission: FIRE & Debt
    July 25, 2021 at 5:07 pm

    this was impressive, im on the same path. thanks for sharing your story

  16. Ja Crispycreem
    July 25, 2021 at 5:07 pm

    Get a degree that gets you a better job sheeh

  17. Deepen The best
    July 25, 2021 at 5:07 pm

    If she is 20 years old and took 6 years to pay her debt, does that mean she started taking out loans when she was 14?

  18. Kathari na
    July 25, 2021 at 5:07 pm

    Its insane how much debt the students in the USA have. I live in Germany and cant even imagine it, because I dont had to pay any debt. I think everyone should have the opportuniy to study for free. My respect how fast you paid this back, thats really not easy.

  19. Alex Anderson
    July 25, 2021 at 5:07 pm

    Nice story. But why is this advocating paying down the smallest balance first? You save money if you pay off the highest interest rate first.

  20. Switchback Finance
    July 25, 2021 at 5:07 pm

    Side hustles are the only realistic way to payoff student loans aggressively!

  21. keith muhati
    July 25, 2021 at 5:07 pm

    Have your mortgage settled in 5-7 years as opposed to 30 years and convert your debt into wealth. I came across this amazing platform that lets you do that, I just thought I’d share. Check out Great Wealth Strategies LLC website and find out more.

  22. Red Krawler
    July 25, 2021 at 5:07 pm

    Why didn’t she Wait? Biden is going to cancel Student Debt! 😂

  23. derekbarnes1
    July 25, 2021 at 5:07 pm

    This is why Biden isn’t gonna pay off SL debt…because it’s screws people like this who work hard to pay it off out of their own pocket.

  24. Breton Homewood
    July 25, 2021 at 5:07 pm

    We all benefit from her education. Why are we doing this to the youth of this country? Europe, India, China don’t have crippling student loan debt, they see a way to be the empire.
    This isn’t a good heartwarming story. This is a story of a young woman who was stolen from by predators and missed out on purchasing a house

  25. Tammy Davis
    July 25, 2021 at 5:07 pm

    Congrats

  26. B. R. Supreme-Constitution
    July 25, 2021 at 5:07 pm

    Poor thing. That interest is killer. Why is the federal government profiting off her and every other borrower's suffering?

  27. From DEBT to WEALTH
    July 25, 2021 at 5:07 pm

    Congrats!

  28. Jesse Moe
    July 25, 2021 at 5:07 pm

    Every 20, 30, 40 something with loans should be taking notes and buckling down instead of crying for the government to pay the loans you applied for and used