Student loan debt is a huge problem that many people are falling victim to. There are many different ways for you to get out of student debt without having to repay it. All of these methods need to be seen as more than just a last resort: they should be seen as smart life decisions that will help you avoid the pitfalls of crippling debt – and in some cases, bankruptcy. The following are some of Legal ways to get out of student loan debt fast;

1. Trade in Your Car

Showing up to class in a car that doesn’t run is never a good thing – especially when you’re already carrying student loan debt. If you own one vehicle, you should sell it and use the money to pay off your student loans. It will drive down the value of your other assets, but it’s better than putting even more pressure on your credit history.

2. Use Other Types of Assets as Collateral for Student Loan Debt

College funds can be crucial to a college education – and if you need student loans to get that education, then you’ll need college funds. College funds can be used as collateral for student loans. If you’re not aware, your college fund is considered a separate asset from your personal finances. You can use this money to get out of debt faster since lenders will be more willing to work with you.

3. Consider Taking Out a Second Student Loan

Student loan debt isn’t going away anytime soon – so it might make more sense to take out another student loan and use it as collateral for the first one. This will help you pay off the first student loan faster, and it’ll also set you up to take another student loan in the future if you decide that you want another degree or career change.