I’m Graduating with $134K in Student Loans


Dear Steve,

I am a current student and have one semester left after this current one. My current loans are 134k before that last semester has even started. I make monthly payments already.

Is there anything I can do to get a head start on the loans or get some of it forgiven?



Dear Logan,

It depends if your loans are federal or private. It makes a giant difference.

Private loans are not eligible for any forgiveness.

Federal loans are eligible for some future forgiveness, but it depends on your field and how long you plan to work in those fields. For example, if you decide to pursue something in a non-profit field or government work, the Public Service Loan Forgiveness (PSLF) program might be around to help forgive your loans after you have made 120 payments.

Other forms of slight forgiveness may be available in specific situations and occupations. But, again, I’d need to know more.

Without a doubt, the most effective way to pay student loan debt is to make the regular ten-year payment or more each month. This will get you out of debt in a known period for the least amount of interest.

Logically, the easiest way to control unmanageable student loan debt is not to incur it, to begin with. Unfortunately, that is easier said than done for many.

At this point, the most constructive use of your energy would be to find a good-paying job on graduation that allows you to utilize your education and that you enjoy.


You are not alone. I’m here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don’t give up.

Damon Day - Pro Debt Coach