The 3 Best Stories of Graduates Paying Back Their Student Loans

05/01/2015 02:58 pm ET | Updated May 01, 2016

Imagine how Sarah Watts felt as she packed her bags to leave college. On the brink of her graduation, she realized she owed a grand total of $62,000 on her student loan. Then you have Michelle who faced a hefty $40,000 debt after receiving her graduate degree. Finally, consider Jordan Adams who accumulated a whopping $85,000 in student loan debt during the recession.

Believe it or not, these aren’t sob stories. Instead, they’re tales of victory.

Pay Off Is Possible

All of these graduates managed to pay off their debt without the help of any miracles. However, hard work, ingenuity and the right resources went a long way. In each instance, we can see that there are many ways to manage your student loans and the ability to get out of debt faster than one may think.

Tighten Your Belt

In the case of Sarah Watts, she and her husband dug their heels in and fought their way out of debt. This meant moving in with her parents in order to save on rent payments. Plus, they channeled every extra dollar, such as tax refunds and overtime bonuses, towards paying down their debt.

Firmly united in their decision to get out of debt quickly, the couple went as far as coupon clipping, homemade laundry detergent, cooking from scratch and cloth diapers to repay their debts in full. After three years, Sarah’s $62,000 student loan was paid off in full.

Full Steam Ahead

When it was Michelle’s turn to evaluate her situation, she realized that she was in for a $500 per month payment. This upset her so much that she decided to take on extra work in order to pay her loan off faster. She worked two jobs, working up to 20 hours a day sometimes. Every penny possible went to her loan provider, and 11 months later her $40,000 loan was wiped clean.

Smart Moves

Jordan Adams who faced a monstrous $85,000 debt burden in the midst of historically high interest rates. He and his fiancé hoped to get married and buy a home, but Jordan was carrying five student loans with a maximum interest of 12.2 percent. To make matters worse, over the course of his repayment he was expected to pay over $75,000 in interest.

Instead of giving up, Jordan explored his options, which led him to Credible. Jordan was able to dramatically reduce the interest rates on his student loans. How much better? Instead of $75,000 in interest, he ended up now only having to pay $20,000, for a total saving of $55,000 over the life of the loan.

Now Jordan’s dream of getting married and buying a home is becoming a reality.


Though some of these stories may be more extreme ways to get your student loans paid off as fast as possible, they show that getting out of debt is possible. The student debt crisis is already impacting many nationwide and finding solutions to a debt free life is of critical concern.

To see if you can reduce your interest rate like Jordan did, visit Credible.

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