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How to Get Out of Student Loans Without Paying the Full Amount

Written by Jasir Jawaid

The cost of education continues its upward momentum. According to U.S. News, the average college tuition in the 2021-2022 academic year rose to 2%. And to meet this growing cost, students must take on more debt. Indeed, student loan debt in the U.S. totals $1.762 trillion, according to, with federal loans comprising 91.2% of all student loan debt. The average balance is $37,014.

Paying student loan debt- or any form of debt- can be daunting. It requires sticking to a budget, cutting discretionary spending, and hacking money management in general. Still, you may sometimes feel like your balance isn't shrinking by much. This is especially true if you're making the minimum payment, which barely moves the needle. I get it: repaying debt and remaining current on your bills is a tricky balancing act.

But the federal government has a few programs, including some that let you off the hook before you've paid the amount in full. While that may seem too good to be true, the programs offered by Uncle Sam are legit and do not involve robbing a bank.

This article was published on JoyWallet and can be read here in full.


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