Student Loan Payoff: 3 More New Ways to a Student Loan Bailout for Your Budget

It’s time to get that student loan payoff going, right? I had so much fun with the student loan debt help I suggested in my last post, I thought I’d expand on it with a few more ethical ways.

Remember, this isn’t advice, just ideas so you can start planning your student loan payoff.

1. Green Energy = Green Wallet

Start a great new green energy power plant. Grow algae to replace oil, or build a solar powered bicycle or garbage truck. Sell it and make millions.

Or just apply for a grant from the energy department for your idea.

At least ask for enough to pay off your student loans.

2. The Per Diem Bonus

If your company pays per diem while traveling, volunteer to take a long trip. Preferably someplace expensive, like Belgium or Scandinavia.

Save all of your per diem, and live on just waffles. And Belgian fries. And chocolate. This plan may not work if you go to a country with great fries, waffles, and chocolate.

Use the proceeds for a big student loan payoff.

Need more money? Find more trips.

3. Trade Up

Go back to school, get a better degree to get a much better job or start a killer business.

I am amazed at how many people go to college get student loans and then do one of two things:

(1) Quit school or (2) graduate in a field that they knew didn’t pay well to begin with. I won’t pick on any field directly, but you know who you are.

Borrowing heavily to get a low paying job doesn’t work well. Finish your degree. Find a better company, a better industry, or find a way to do better where you are.

Your student loans will go into deferment while you go to school. Get help from your employer with tuition reimbursement. You might want to arrange this part before you back to school.

Finish and get a high paying job. Then, live cheap till you pay off the old loans.

I know, Tom Monoghan, Michael Dell and Bill Gates didn’t finish. But guess what? They don’t have any problem paying off their student loans, either ;o)

Get Started!

Hey, arriving at a final student or consolidation loan payoff can be a headache, but you can do it if you have time and health on your side.

And if not, you can always marry rich, right?

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