10 Tips to Help You Pay Off Your Student Loans and Save for Retirement

Cathy Pareto
You need to make some important decisions early on in your career to help you maximize your earnings, reduce your debt, and begin saving for tomorrow.

You need to make some important decisions early on in your career to help you maximize your earnings, reduce your debt, and begin saving for tomorrow.

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Based on brand new survey data, the ABA YLD has issued a landmark report on the current state of law student loan debt. Among the many findings, we learned that more than 75 percent of respondents had over $100,000 in student loan debt and almost 90 percent of respondents said their debt had a major impact on important life decisions. To learn more about the report’s findings and proposed solutions, watch our new webinar replay Understanding and Navigating the Student Debt Crisis. (Replay is free for ABA members. Login required.)

One of the most expensive degrees you can earn is a law degree. For many recent graduates, the burden of this debt may leave them feeling like they should just focus on repaying the loan amount as fast as possible and at all costs. While this may seem like a good strategy, you may end up hurting your long-term financial goals including your retirement. So how do you tackle both paying off your debt and saving for retirement? By making the right choices early on in your career and by having a clear financial plan.

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