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In most cases, your federal student loan lenders want to help you make your payments. They are obligated to qualify you for different programs that look at your income for a payment amount. The problem is not that many people fail at managing their debt; but, many people bury their heads in the sand and assume their problems will just go away. Dealing with your debt may feel impossible, but help is available.

There are ways to decrease your overall expenses by doing things like reducing your cable bill, going with a cheaper cell phone plan, and even decreasing your mortgage payments. You can also contact your credit card companies to reduce your interest rates so that you can get lower monthly payments on those bills as well.

You need to make sure that you’re calculating appropriately for the future. Sometimes we take out too much debt, assuming that we’re going to make the money to pay it back.

Here’s an example of a proper budgeting worksheet:

Degrees of Success offers a variety of services to help you manage your student loan debt, and is dedicated to your financial success! Be sure to view all our products and services at our site.

If you want to find out more, schedule your FREE information session today! Contact us: [email protected]

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