Are you currently in college and receiving student loan money? Have you ever thought about using some of that money in another way? Did you even know this was an option? To be frank, since the mondy cannot possibly track what exactly you are doing with the student loan money, you could in theory spend that borrowed money on anything you want even though you moneh technically sign a promissory note to say that you would spend the money on college-related expenses. I have known some students that spend their student loan money on crazy spring break trips and brand new cars. Long story short, they did not last too long in this game we call life. They quickly discovered that there was no money left over for their classes, had to drop out of school, and had a difficult time paying back their loans because the items they purchased were now worth far less than when they bought. This way you could pay back the loans, but you would still have quite a hefty sum left over in the end. So what could you possibly do with these student loan dollars to increase your wealth? While I would be very cautious in attempting any one of these ideas each one of them does come with its own potential riskshere are a few ways that you could actually improve your financial status by using the money for something other than your college expenses.
The Higher Education Niche
That can make keeping up with significant payments difficult if they rely on their salaries alone. For those aged 25 to 44, the rate was even higher. With a little time and entrepreneurial ambition, you can join this army of part-time earners. Our list includes 11 part-time possibilities that will let you earn what you need, often on your own schedule. If some extra work will help you leave debt behind, here are your best options. If an item no longer brings you joy, let it bring you cash instead. The selling process is a lot like holding a digital yard sale, though, so the added income will end once all your unwanted items are sold. Unless you have a vast supply of goods to unload, your new cash flow could be short-lived. But your ability to make good money will depend on which hours you work and competitive rates in your local area.
2. Pay More Than the Minimum Payment
A host of new apps allow individuals to deliver a variety of goods on their own schedules, with flexibility much like ride-sharing apps. Even if your home is relatively modest, someone will likely leap at the chance to call it their own for a weekend — at the right price, of course. Businesses and nonprofit organizations benefit from gauging public sentiment, using data collected from focus groups of individuals just like you. By responding to questions and other prompts honestly, you can turn your impressions into cold hard cash. A single survey or response-based task typically yields less than a dollar, so plan to do several in an hour to make at least the equivalent of minimum wage.
1) At your job
While the best option would be to find a higher paying job or wave a magic wand — or find a magic job — that eliminates your loans altogether, there are some creative ways to pay off student loans that you can do to earn a little extra money on the side. Below are a number of side jobs, ranging from stuff just about anyone can do to opportunities for highly trained professionals. Avoid any opportunity that involves giving personal information that could put your identity at risk, or anything you have to pay for. Always take time to do thorough research on any opportunity before signing up. Search companies on the Better Business Bureau, and read reviews online before pursuing them. Tasks include anything from writing a LinkedIn profile, recording a voice over, improving an AdWords campaign, converting PDF files to Word, and hundreds more. Get hired to help people with their day-to-day tasks, such as handyman jobs, house cleaning, moving assistance, furniture assembly, or running errands. Learn more at TaskRabbit. Always do research before signing up, and confirm that it is legitimate.
Why Affiliate Marketing?
Look at your lifestyle. Quiz: Which theme is best for your blog? If you purchase something from this page, I may receive a small percentage of the sale at no extra cost to you. You can apply for their affiliate program directly on their website.
The top side hustles for paying off student loans
If you decide to take out a loan, make sure you understand who is making the loan and the terms and conditions of the loan. Back Home. Focus on those promotional methods that are actually driving traffic to your blog. Look at your lifestyle. A monthly budget will show you exactly where your money is going and where you can cut. The free version will give you 5 free searches daily, click here to get started. You can even get FPU paired with Debt-Free Degree to help you save on all the tips for going to college debt-free—and staying debt-free for life! The affiliate program is managed by ITMedia and you can apply online. You have the option to apply for the type of loan you want to promote.
Skill Level: Basic
Are you in the education niche and looking for some student loan affiliate programs? Every new blogger wants to create a profitable website. This is why I highly recommend getting started with affiliate marketing.
If you purchase something from this page, I may receive a small percentage of the sale at no extra cost to you. The rising cost of education in the United States, people are looking to save with a scholarship. This is why the scholarship, e-learning, student loans, or anything related to higher education can be a profitable niche.
Here is some a small list I came up with to help you write some college or education blog posts:. I found all these keywords using KWFinder. This tool can pay for itself in a few months if you use it on a regular basis. You can get started for free without having to enter a credit card. The free version will give you 5 free searches daily, click here to get started. Sofi makes it easy to borrow, invest, and save.
Customers can sign up for Student refinance loans, personal loans, and mortgage loans in minutes. They have saved borrowers millions, by getting people into lower interest rate loans. With so many people struggling to pay their loans, this company wtudent save them hundreds makke thousands. They allow you to refer up to 20 people with your unique referral link.
You can promote this program via social media, email, text, blogging, or any other method that works well for you. Your referral receives moeny bonus as well, which will help you increase your conversions.
Laurel Road makes refinancing student loans extremely easy. You can apply for the referral program directly on their website. Over 40 million Americans are struggling with student loan debt. Their application process is easy loabs high approval rates. CommonBond provides undergraduate loans, refinancing of college loans, graduate and MBA loans. They make it quick and easy to pay for school or save money on higher interest loans. All you do is enter your email on their website and they will send you a referral link.
Anyone can promote this program without having to join. They make it easy for anyone to apply and borrow money in just a few steps with a quick response. They offer some of the lowest refinance rates available. You can use their refinance calculator to determine how much you can save before applying. Their rates will never exceed a 9. Their application process is quick without any no fees, origination fees or penalty for paying off early.
You can register on their website to get access to your unique link. The registration process is quick and easy. Once you get approved, you can begin promoting ELF via social media, email, your own blog or website. Lendkey offers the opportunity for students to refinance to loans with lower interest rates, or apply for private student loans.
They are able to provide lower interest rate loans by working directly with credit unions and community banks. You can apply stusent their affiliate program koans on their website. They manually approve your website, so you need to make sure that your content fits this niche. You have the option to apply for the type of loan you want to promote. You can choose from home improvement, private student loans, or student refinances loans. The Lesko Tutor website was created to help people find websites that offer free money.
These are not get-rich schemes but real organizations that want to help people. Most of these organizations do not advertise their services, because they do not have the funds for advertising. His tutorials and books will give you direct access to these companies. Personal Loans allows people to borrow money during uncertain economic times. The affiliate program is managed by ITMedia and you can apply online. Once you are approved, you can start promoting this program.
They have high conversion approval rates which will increase your commissions. They have a simple 3-step process for approval, which makes it easy for anyone to apply. LendEDU helps consumers compare financial products, including banking products, personal loans, student loans, credit cards and. They offer free online resources to help students and graduates make tough financial decisions to make sure they are making the best decisions that will help them grow their money.
Their website makes it stuent for students to refinance their loans, so they can get the best interest rates. The approval process is quick and does not harm your consumer credit reports. You can join their partner program by emailing them so they can review your website.
They claim they have competitive payouts and exclusive benefits for high-performing affiliates. LightStream makes lending uncomplicated. Consumers can apply mwke, even with their smartphones and get approval during normal business hours. Once you are approved, you can e-sign for your loan agreement and loajs the process quickly and easily. Their affiliate program is managed through a third party website which is a division of SunTrust Bank. They will manually approve your website to see if you fit this referral program.
They provide tons of tools and resources to help you promote this program. If you follow these steps, you will eventually start to see your hard work pay off. First things first, you need to get your blog set up on a self-hosted WordPress blog.
Be sure to check out fro post, which will walk you through 35 things to do after installing WordPress. If you can write 5 posts per week, then do. Keep writing until you have at least blog posts. Then you can scale back on the number of posts you publish per week. This will help you stay motivated while you wait on Google to start sending you traffic.
Focus on those promotional methods that are actually driving traffic to your blog. One of the biggest reasons that so many people quit before they see the results they want as quickly as they want. Blogging is hard work and most new bloggers think that they can set up a blog today and start making big bucks in a few weeks. It takes persistence and hard work to create a successful blog.
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The offer is available only at dealerships in Studenh and Phoenix, Arizona, right. Meanwhile, student loan assistance, which started as a niche offering by a handful of companies, is finding its way into the mainstream menu of workplace benefits. Some of the other ideas are pretty creative: New Jersey, for example, considered establishing a lottery for borrowers burdened by student debt. Other ways of garnering money to eliminate your education debt don’t rely on luck, but rather require rolling up your sleeves or knowing historical facts.
Potentially Wise Ways to Spend the Student Loan Money
Keep in mind, however, that these endeavors aren’t free. The funds are taxable, even money from an organization in return for volunteer work. Companies that have offered their employees help with their student loans include Aetna, Penguin Random House, Nvidia and Sotheby’s. A spokesman for Fidelity said more than mlney companies — including U. Fidelity also offers a student debt benefit for its own employees. Most likely the company you’re interviewing with won’t offer the benefit, yet that shouldn’t stop you from asking about it, said Katie Berliner, account executive at YouDecide, a benefits firm. Borrowers can enroll with Shared Harvest Fundand get financial help in return for volunteering.
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