In America, there is around $1.5 trillion debt owed by students according to data from the Federal Reserve. However, this isn't isolated to the USA as student loans are a big financial burden for students all over the world. Whether you've just started your education or you're coming to an end; we're here to share five ways that could help you pay off your student loan quicker.
There are many ways to earn some extra cash while not interfering with your study group schedule from dog walking to waiting tables, below we have listed the top five ways to help you pay off your student loan.
- Dog walking isn't exactly a revolutionary way to earn some extra cash but it does work. Some walkers can charge $16 per walk for an hour group walk and up to $25 for private walks. If you don't mind fitting in multiple walks a day to suit your schedule you could end up with a healthy sum each week.
- One way to earn up around $300 a month while staying seated is by donating blood plasma at your nearest plasma collection facility. Facilities such as Prometic Plasma Resources allow donors to donate blood plasma twice a week with opportunities to earn additional bonuses with special programs. Donating blood plasma can improve the lives of those suffering from ultra-rare diseases so why not do some good while paying off your student loan?
- If you're a regular visitor of the gym, you could earn some extra cash while keeping fit. Fitness instructor's can earn an average of $30 per hour and some clients are willing to pay a bit more for in-home personal training which can earn you anywhere between $75-$100 an hour. You may need to put in some time upfront for training and certification before it starts to pay off.
- For many international students having the benefit of knowing multiple languages could land you a part time job working from home. Freelance translator's can earn $14 an hour up to $55 an hour and it would be great experience to state on your resume.
- If you consider yourself an expert in any particular subject you could use this to help other students and earn between $30 to $60 an hour. Again, this is great experience to add to your resume and doesn't call for training or certification before you can begin.