How Do I Stop Worrying About Student Debt?

Worrying about student debt is understandable, but there are ways to manage your anxiety and create a plan for repayment.

1. Understand Your Debt

Know your loan details: Get a clear picture of your loan amounts, interest rates, and repayment terms. You can find this information on your loan servicer's website or by contacting them directly.
Create a budget: Track your income and expenses to see where your money is going. This will help you identify areas where you can cut back to make extra payments towards your debt.
Explore repayment options: There are various repayment plans, including income-driven repayment (IDR) plans, that can adjust your monthly payments based on your income.

Prioritize high-interest loans: Focus on paying down loans with the highest interest rates first to minimize overall interest charges.
Set realistic goals: Don't try to pay off your debt too quickly, as this can be overwhelming. Set small, achievable goals that you can build upon.
Automate payments: Set up automatic payments for your loans to ensure you never miss a deadline.

Talk to a financial advisor: A financial advisor can help you create a personalized repayment plan and offer guidance on managing your debt.
Join a support group: Connecting with others who have student debt can provide valuable insights and emotional support.
Utilize resources: Many organizations offer free resources and tools for managing student debt.

Focus on things you can control: Remember that you can't control the amount of your student debt, but you can control how you manage it.
Practice mindfulness and relaxation techniques: Stress and anxiety can make debt feel more overwhelming. Techniques like meditation, yoga, or deep breathing can help manage stress.
Seek professional help: If you're struggling with anxiety or depression, don't hesitate to seek professional help.

By following these steps, you can start to reduce your stress about student debt and create a plan for a brighter financial future.