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Americans owe more than $1.73 trillion in student debt, and that total is rising steadily, along with tuition costs. Now, students are borrowing even more because the price of education has grown exponentially faster than income. Meanwhile, exorbitant interest rates keep them drowning in debt.
Are you in a similar situation? Don’t give up just yet! Crack open some books about student loans and learn how to dig yourself out of debt. Financial freedom is possible. You just have to be willing to do some reading.
1. “The Debt Trap: How Student Loans Became a National Catastrophe” — Josh Mitchell
From acclaimed Wall Street Journal reporter Josh Mitchell comes the real story of how student debt went from gold mine to national catastrophe. This book will open your eyes to the scandals, scams, actors and government malpractice that submerged an entire generation of Americans in $1.5 trillion in student debt. Familiarize yourself with the 70-year history of student loans in the U.S. and discover how it mirrors the housing crisis in the late 2000s.
2. “Education Without Debt: Giving Back and Paying Forward” — Scott MacDonald
Want a closer look at how the historic student loan crisis is affecting your peers? In “Education Without Debt” Scott MacDonald examines the real-life impacts of student debt by weaving together stories of debt-impaired lives. He also offers a solution to fix this crisis and shares stories of how financial aid fuels personal success. Maybe scholarships and grants hold the keys to graduating debt-free. Grab a copy of this must-read to find out more.
3. “The Spend Cleanse” — Chinyere Okali
If you’re looking for practical, step-by-step books about student loans to eliminate debt, this book is for you. “The Spend Cleanse” will help you experience dramatic results by suggesting drastic changes you can make to your spending habits. Turbo-charge your savings account and pay off your debt ten times faster, even if you’re a low-income earner, with tips from this helpful handbook. The author promises that your dedication will pay off as long as you commit to the plan and stick with it.
4. “It’s Not Common Cents” — Aaminah Amin
Most schools don’t teach basic money management skills, so it’s no surprise that 43% of U.S. adults are financially illiterate. The good news is that anyone can learn and it’s never too late to set yourself up for financial success. No matter what your finances look like, author Aaminah Amin has a plan to help you experience freedom from debt and feel more confident when it comes to money. Build good financial habits with her 30-day step-by-step plan.
5. “Slay the Student Loan Dragon” — Matthew Burr
Are you ready to slay the student loan dragon? Matthew Burr will show you how in this quick, easy read. Take control of your financial future and develop a plan that works for you and your current situation with tips from someone who’s “been there, done that.” Learn how to change your budget to save for the long term with Burr’s tips and tricks for habitual money management and watch your debt disappear for good.
6. “Twenties in Your Pocket” — Kate Anania
Does personal finance make you nauseous? Want help but unsure of which questions to ask? Kate Anania’s got your back with “Twenties in Your Pocket.” In this book, the author shares her own history of unemployment after college and her struggle for financial freedom. Her witty storytelling and heartfelt advice will help you feel more confident about money management, regardless of your financial starting point. Learn the basics of banking, debt, retirement, taxes, student loan repayment budgets and more all with this one tiny book.
7. “How to Be Debt Free” — Avery Breyer
Student loans may put you in debt, but interest rates will keep you there. Learn how to spend less in interest and more on the things you want with Avery Breyer’s “How to Be Debt Free.” Get back to the basics with her simple, no-gimmicks plan to finally free yourself from debt — no matter the kind. You’ll also get free access to The Debt Destroyer, a tool that helps you create a customized plan to pay off debt and keep more money in your pocket.
It is entirely possible to dig yourself out of student debt. You simply have to educate yourself on how to do so. Gain financial freedom faster and save for the future by learning from others’ mistakes and heeding their advice. Take initiative, read to succeed with these books about student loans and watch your debt disappear.