Anthony Oneal - Destroy Your Student Loan Debt: The Step-by-Step Plan to Pay Off Your Student Loans Faster

2020 Lampo Licensing, LLC

Published by Ramsey Press, The Lampo Group, LLC

Franklin, Tennessee 37064

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Editorial: Ara Vito, Rick Prall and Jennifer Day

Cover Design: Chris Carrico and Gretchen Hyer

Interior Design: Mandi Cofer

Ebook formatting: Mark D'Antoni, eBook DesignWorks

ISBN:

978-1-942-121-24-4 (print)

978-1-942-121-25-1 (ebook)

Printed in the United States of America

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All things are possible with God.

MARK 10:27

THIEF!

Thats what the cruel voice shouted through the phone. The debt collectors anger rang louder than the crashing waves below. Julie was sitting in her rusty sedan at her favorite spot 200 feet above the Pacific Ocean. She let the phone slip through her fingers and rested her head on the steering wheel. She was defeated. Not like when your favorite team loses the championship by one point. Like really defeatedfeeling fear and helplessness and despair all at once. The kind of defeat that makes you think about driving off a cliff.

But Julie wasnt a thief. In fact, she felt like she was the one being robbed. Her student loan debt was pressing in on her from all sides. The bright, fulfilling future she once thought her college degree promised was gone. Instead, she spent her days avoiding collectors and her nights crying herself to sleep.

As Julie shared her story with me, she told me shed fought her student loan debt for over 20 yearsand it had only gotten bigger. A lot bigger. Because she wasnt able to keep up with all the payments, her balance had grown from $15,000 to over $60,000. She was desperate. Nothing she tried made a difference. Julie was out of hopeand shes not the only one.

Have you been there? Are you there now? I was there at 19 years oldhomeless, living in my car, with thousands of dollars of debt. And I hear similar stories from people all over the country all of the time: Anthony, I need help! How do I pay off my student loans? Where do I even start?

The reality is, student loan debt is a massive problem for us today. Check it out:

• There are 44 million people in the United States right now
• A recent survey showed that most current and upcoming graduates believe theyll pay off their student loans in an average of six years. But the reality is, it takes closer to 20 years or more!
• Forty-nine percent of student loan borrowers end up with higher loan balances five years after graduation! That means almost half of borrowers are actually losing ground as they struggle to pay off their loans.

Thats unacceptable! When youre signing on the dotted line to borrow money for school, no one thinks this is going to happen to them. No one expects to not be able to pay their loans back. But it happens all the time to people in every walk of lifefrom those who never graduated to folks who are now doctors and lawyers. And thats why I wrote this book. Because even if your situation looks hopeless, you need to know its not!

The way were taught to approach student loan debt is all wrong. If you have student loan debt, its easy to get overwhelmed and stressed out. Its easy to look for ways to lower your monthly payments. It can even be easy to ignore your debt altogether, thinking youll get around to it someday. But the last thing you need today is relief from your debt. What you need is to get mad at it.

No matter what you believed when you took out your loans, the reality is that if you dont get serious about getting rid of your debt fast, theres a good chance its only going to get bigger and stay with you longer. So whether youre drowning in debt like Julie was or you dont think your student loan debt is even a problem, Im going to show you why you need to dump your debt fast and how to do it.

Over the next hour or so, were going to face the reality of what student loan debt is actually costing youbecause its probably worse than you thought. Ill also show you why you cant count on loan forgiveness and tell you when I would recommend debt consolidation (spoiler alert: its not very often). And then Ill walk you step by step through the proven plan to pay off every dime of debt as fast as humanly possible. Along the way, well also hear from some amazing, hustle-and-grind people who destroyed their student loan debt and are now living lives of freedom!

Will it take some hard work and sacrifice to destroy your debt? You bet. Will it be worth it? Definitely. Just ask Julie. After we talked, she got crazy intense. She took on three jobs, sold most of her stuff, slashed her spending, and paid off that $60,000 in only 27 months. And most importantly, theres a light in her eyes now. She has hope againand a bright future. I know you can do it too! It is possible to get yourself out of debt and take control of your life.

Take a second right now to picture yourself in the future completely free of student loan debt. What does that look like? How much extra money do you have in your bank account each month? Think about the business you want to open, the vacation you want to take, the wealth you could be building, the kids who wont have to worry about money because their parents built a legacy for them. Think about the house you want to own. Think about all the ways you could bless others by giving generously.

Now get excited, because that future is closer than you know. Its not an impossible dreamits a reality waiting to happen. You dont have to spend decades paying off your student loans. Theres a better way. You can pay it off faster than you thinkand you can start today!

Before we can dive into the solution, we have to take a closer look at what caused this mess. Heres the hard truth: youve been lied to.

As a young, college-bound student, you were told the only way to pay for college was to take out student loans. They called it good debt and an investment in your future. It was the price you had to pay for the best chance at getting a job, making good money, and pursuing your dreams. Everyone did it. But the truth is, borrowing moneyfor any reasondoesnt open doors for you. It slams them in your face.

You guys, its time for some straight-up facts: Theres no such thing as good debt. Debt sucks. Period. Even student loan debt.