Listen Money Matters - Free Your Inner Financial Badass. All The Stuff You Should Know About Personal Finance.

We interview Rebecca from Stapler Confessions to find out how she is paying off $125,000 of student loan debt and learn how we can pay off our debt too.   Rebecca escaped her four-year college with zero debt but things changed when she graduated law school. She came out with $125,000 in student loan debt. She married her law school sweetheart and he had the same amount of debt so all total, they were a quarter of a million dollars in debt.  The couple used the snowball method and every month threw every extra dollar at the smallest loan payment.   Rebecca’s husband works for a non-profit and uses an income-based repayment plan.  If he works for the non-profit for 120 months and makes every payment, the rest of the loan will be forgiven.  This option is only available for federal loans, not private. Eventually, he stands to have about $50,000 in loans forgiven.   Income-Based Repayment is a good option for a lot of people.  Your monthly payment is based on your income.  It will generally extend the life of you