Was paying off your student loan debt for good one of your resolutions for 2016?
Seven out of 10 seniors who graduated from public and nonprofit colleges in 2014 had an average student loan debt of $28,950, according to the most recent numbers crunched by the Institute for college Access & Success.

In her second edition release of CliffsNotes Graduation Debt, author Reyna Gobel explains that student loan minimum payments are typically figured for a 25 to 30-year term so you could be paying it for most of your adult life.
The debt could even hamper your ability to move out of your parent’s house, buy a car, buy a house or even start a family.
So, how do you know if your student loan debt is realistically payable before 20 or 30 years pass, given your starting salary? The simple formula cited by Mark Kantrowitz, student loan expert and publisher of edvisors.com is, “If your total student loan debt is less than your starting annual income, you will be able to repay it in 10 years or less.”
Kantrowitz says that paying 10 percent of your monthly income toward student loan debt is manageable, and paying 15 percent is stretching that limit.
Many young adults graduating with student loan debt just want it gone, above all else, and they are willing to stretch. They are proof positive that it can be done, by using extreme student debt payoff strategies.