Student loans can be a big financial burden that you need to carry around for a long time. While the typical loan is set up so that you should pay it off in ten years, but with the high costs and everything else that you need to pay for each month, it may take you closer to 20 years to get them gone. In fact, 40% of those who graduated before 2013 still struggle to pay off all their student loan debt.

The amount of time that it will take for you to pay off your student loans is going to depend on a number of factors. These include:

# The original balance on the loan. It takes a lot longer to pay off a loan that is at $100,000 compared to one that is at $20,000. The higher your loan balance, the longer it is going to take you to pay back, unless you get a really amazing job to pay it down faster.

# The repayment plan that you choose: Most borrowers will be on a schedule with the loan company to pay the loans off within 10 to 20 years. It is possible to pick out a different plan that is going to drag this out even more.

# How much you pay each month. You won’t be able to make a ton of progress if you are only going after the minimum amount to the loan each month. If you are able to pay some extra during the month, it will help to pay the loan down faster than ever before.

The best way to handle these loans and make sure that you do not have to work on them for a long time is to come up with a plan. Figure out how much you can afford to throw at the loan each month and then stick with it, getting rid of those student loans as soon as possible.

Your student loans can take up a large amount of your income each month, which can make it difficult to pay for an apartment. That is why you need to take the time to pick the right apartment that is affordable, giving you some extra money to throw at your loans and get them paid out. When you need to worry about your budget and keep things on track, then it is time to take a look at our studio apartments for rent in Arden Arcade. We have some amazing units that will fit your budget and help you reach all of your financial needs. Come and take a tour today to see if one of these units is right for you.