A 35-year-old father of two recently contacted me in desperation, looking for help getting out from under $40,000 in student loan debt. “I’ve been paying $475 a month payments on this debt for years,” he said, “but because of interest piling up, I’ve hardly made a dent in it! I can’t buy a house; I can’t save for retirement; and we’re just scraping by every month, just barely able to pay our bills. Help!”
My advice to him was blunt. “You need to get aggressive,” I said. “Start doing insane, crazy things to pay this debt down as fast as possible.” I talked to him about finding an elderly person who needed a little help with home care and yard work, and moving his little family into one room in this person’s unfinished basement to save on rent. I talked to him about selling his nice car and taking Uber to the grocery store and public transportation to work. I talked to him about getting all of Amy Dacyczyn’s Tightwad Gazette books and adopting a whole bunch of her crazy, outrageous, creative strategies for saving money and paying down the principal on debt.
Parents, don’t let what happened to this man happen to your kid.
Does your son think that student loan debt is “no big deal’? Is your daughter balking at filling out scholarship applications because she mistakenly believes the lie that “everyone gets student loan debt – that’s just the way it is – it’ll be easy to pay my loans off when I graduate“?
Watch this 3-minute movie trailer for the student loan debt documentary “Broke, Busted, and Disgusted.” Then buy or rent the documentary and consider watching it with the teens in your family.
“Broke, Busted, and Disgusted” is guaranteed to light fire in your teens to do all they can to avoid student loan debt, and in you to do everything you can to get your kids through college debt-free and into jobs they love afterward.
To keep debt-free college at the top of your mind as your kids are growing up, subscribe to my “email updates” using the form on this site, and then open it every single time it lands in your email inbox. It always includes a valuable timely article, plus info on my speaking and online specialty classes. (Use the directions here to make sure your email provider always sends my emails straight to your email inbox.)
Don’t let your kids become a student loan statistic.
Buy (or rent) the entire 53-minute “Broke, Busted, and Disgusted” documentary here.
Praise for Broke, Busted, and Disgusted:
There’s no part of parenting more important than setting your kid up for successful college and career life.
For clear, step-by-step help getting your kids through college debt-free, don’t rely on a loose collection of blog posts. You’ll miss hundreds of details that way. Instead, get your copy of my book:
You can “Look Inside” the book on Amazon for free by going to:
(Tell your friends.)
You can see the “Top 9 Questions Parents Are Asking Me About LAUNCH,” here.
Read just one chapter of LAUNCH every 1-3 months while your child’s in middle school and high school, and you’ll know every viable strategy for debt-free college at exactly the right time to implement it.
And if your child’s already well past middle school? That’s OK; you can run to catch up. But the process of getting your kids through college debt-free goes more smoothly the earlier you start it – especially if you’re not planning to save up any money to pay for college.
Do you have friends who are parenting kids ages 12 – 22? SHARE this post on Facebook, Twitter, and LinkedIn right now.
What about you? What jumped out at you when you watched this trailer for Broke, Busted, and Disgusted? What are your favorite strategies for helping kids avoid student loan debt? Comment below or LIKE Jeannie Burlowski Author on Facebook, find this post on that page, and let’s talk about it there.
Who is Jeannie Burlowski?
Jeannie is a full time author, academic strategist, and speaker. Her writing and speaking help parents set their kids up to graduate college debt-free and move directly into careers they excel at and love. Her work has been featured in publications such as The Huffington Post, USA Today, NerdWallet, and US News and World Report.