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Exactly exactly just How quickly should you spend your student loans off? Two cash professionals share their tales

Bridget Casey and Robb Engen are two of Canada’s money bloggers that are best-known — and, like at the least 50 % of college graduates in Canada, that they had student education loans.

Casey, 33, the creator of monetary literacy site cash After Graduation, completed her degree that is undergraduate with $21,500 in federal federal government student education loans after which utilized a credit line to invest in section of her MBA. Engen, 40, a fee-only advisor that is financial daddy for the Boomer and Echo cash we we blog, left college with almost $30,000 with debt.

The tales of the way they repaid that load couldn’t become more different. Yet, the advice they need to today’s graduates is remarkably similar.

Burning that student financial obligation: Casey’s tale

Whenever Casey completed her study that is undergraduate she determined to incinerate her stack of pupil debt at record speed — and she did. In only 22 months, at age 27, she had was able to repay the federal government in complete, a feat that helped propel her to the most notable echelons of Canada’s money blogosphere.

Burning a lot more than $20,000 in figuratively speaking in significantly less than couple of years wasn’t effortless. To turbo-charge her earnings, Casey arranged a chemistry tutoring gig on the top of a job that is full-time. In addition, she’d act as a freelance author when you look at the nights and occupy jobs that are odd find on Kijiji during the week-end.

I got, like, $18 one hour. “ From the one time … my only work would be to go scan every item within the child area during the Bay and”

“I fundamentally didn’t say no to anything that paid me at the least $15 bucks an hour or so, ” she added.

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