How Are You Going to Pay Off Student Debt?

As a rule, Americans go to college so they can eventually get a lucrative job. Yet in a twist of horrible irony, many of today’s graduates are now looking for a job lucrative enough to pay off school. 

From Idaho to the East Coast, student debt is a crippling problem. Online loans are easy to obtain, but hard to get out of.  Forbes reported that in 2013 the average graduate owed $26,600 in student loans. 

Collectively, the nation’s outstanding student debt amounts to over one trillion dollars.  If you’ve recently graduated, debt can seem like an overwhelming burden. Some jobs are more helpful than others as you seek to pay it off: 

Find a Job With a High Salary

It seems like a no-brainer, but it’s important. Online games and potato chips won’t help with large loans. There’s a reason why doctors and lawyers feel comfortable getting into more debt than most—they’re more likely to pay it off. 

In a rural area like Idaho, these jobs can be scarce. Don’t be discouraged. Polish your resume and send it out online. Network with the people you knew in college. You’ll be surprised what opportunities become available. It might even be a good idea to pursue further training that would allow you to earn more—provided it doesn’t cause more debt, of course.

Take a Job That Helps Forgive Debt

As an extra incentive, some industries will actually help employees get out of student debt. After making a pre-arranged number of payments, the remaining debt can be forgiven by the Federal Government. Most of these jobs are difficult, but for the right person they can work wonders. 

A teacher in Idaho, for example, could opt into The Teacher Loan Forgiveness Program and be transferred to an underprivileged school, but a significant chunk of debt would be forgiven in return. Similar programs exist for soldiers, veterinarians, lawyers and auto workers. Look around and see if a program exists in your field. The right job, paired with frugal living, can have you out of debt before you thought possible.

Tanner Wadsworth is a finance writer reporter for Fusion 360, an SEO and content marketing agency. Information provided by Quik Check Financial.