Setting yourself up for success on the road to zero – the path you’ll take to pay your student loans down to zero – will take strategy and planning. Creating a successful strategy will require an awareness of your financial goals, career goals, personal and family goals as well as an acknowledgement of your current financial situation.

Consider the future:

  • Your desired career and anticipated salary
  • Your desired lifestyle
  • Retirement planning

Review the present:

  • Any immediate expenses you expect to incur
  • Other debt you’re paying off

Determine your repayment goal:

  • Is it to minimize monthly payments to maximize available cash?
  • Is it to aggressively repay to minimize total interest paid?
  • Is it to qualify for Public Service Loan Forgiveness?
  • Is it to make things easier by having only one servicer?

In a world of high-debt, fast-change and a lot of options, you should take the opportunity to be strategic in your approach to student loan repayment. Your current financial situation, your future aspirations and your financial goals are what should together determine your repayment strategy.