LAWYER EXPLAINS | How I paid off $200k+ of student loans in 2 years

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LAWYER EXPLAINS | How I paid off $200k+ of student loans in 2 years

Рет қаралды 57,807

Күн бұрын

📹 Watch the Erika Taught Me podcast to level up your life: erikakullberg....
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I graduated from law school with over $200,000 in student loans. This video details exactly how I paid them off in under 2 years (exact numbers!) and my tips for how you can pay of your student loans faster.
Remember that refinancing your student loans isn’t always the best option, since you will lose many federal loan protections, so please research first before making a decision.
I graduated from law school with over $200,000 in student loans. I wanted to give you the strategies I used to pay off the student loans faster, save interest, negotiate down interest rates, and budget and keep track of expenses. In this video I also talk about refinancing student loans, why I chose to refinance mine, and how I saved money by refinancing.
The biggest thing to keep in mind is to actually set a payoff date. My other student loan video, which you can watch by clicking the link below, talks more about the process for setting a payoff date.
HOW I PAID OFF MY STUDENT LOANS IN 4 STEPS: • How I Paid Off $225,52...
📌Join 4 million followers on Instagram to see my other money videos: / erikankullberg
NOTE: This description contains some affiliate links, meaning that I may earn a minimal commission if you click through and use these links (at no additional cost to you).
Disclaimer: I am not a financial advisor. Although I am a lawyer by profession, I am not your lawyer and no attorney-client relationship is established with you in any way. This video, and the ideas presented in it, are for entertainment purposes only and should not be construed as financial or legal advice.

Пікірлер: 688

@qmakesithappen 4 жыл бұрын

You're a legend!!! Most people wouldn't even negotiate ONCE! This video will put so much money back in people's pockets, I think it was worth the sponsorship lol

@Erika2 4 жыл бұрын

Thank you Q!!! :) You're the legend!

@ShariKaye 4 жыл бұрын

You deserved that job and anything else your heart desires💖 including your upcoming sponsorship(s) 😉. Thank you for breaking down the decisions you had to make in this process.

@Erika2 4 жыл бұрын

Thank you Shari! This is so nice of you to say!

@FlamingBasketballClub 4 жыл бұрын

Is your channel about “financial wealth?”

@TheNoobSnipa 4 жыл бұрын

Hey erika, congratulations on paying off your loan, it is such a blessing to hear your achievements! This video has really encouraged me a lot because I also just graduated and now have to tackle my loans of around $50,000. Thank you for what you do! Many of us appreciate it here! I hope all is well with you!

@rebeccareardon3775 Жыл бұрын

me too michael, we got this!

@mthernandez7591 3 жыл бұрын

I gave my last student loan payment today and it feels AMAZING!

@lilac6257 3 жыл бұрын

Congratulations!!!

@TheEntrepreneurChannel 4 жыл бұрын

200K wow mine were 20K and I'm still paying them! Thats such a great idea to get the two lenders to compete!

@Erika2 4 жыл бұрын

Keep it up! :)

@holy48ghost 4 жыл бұрын

Very good info...James, in in forbearance for the same amount🤪and thought about putting it off for 15 years, just to be wiped out🤷🏾‍♀️

@ecor150 3 жыл бұрын

You're humble and relatable that's why your channel grow fast

@Erika2 4 жыл бұрын

Please help this video out and give it a thumbs up! :) Can we get to 100 likes? THANK YOU! Refinance Your Student Loans - APPLY TO BOTH to compare rates! 🎓 SoFi - (Exclusive) erikakullberg.com/sofi (you'll get a $100 bonus after signing up by using my link!) 🎓 Earnest - (Exclusive) erikakullberg.com/earnest (you'll get a $100 bonus after signing up by using my link!) Others refinancing options: Credible: www.pubtrack.co/9BZP33C/8CWLMG/ Splash Financial: www.pubtrack.co/9BZP33C/B34MN4/

@tylermichaelherron5635 4 жыл бұрын

How do you keep refinancing your variable rates? If rates are going up, wouldn't your new rate be at least comparable to the old one?

@Erika2 4 жыл бұрын

@@tylermichaelherron5635 By the time the rates had gone up, I'd paid off more of the loan, hence the lower new rate each time :)

@isteppedinstinkydogdoodoo183 4 жыл бұрын

👍

@zinatm9530 4 жыл бұрын

Thank you so much for breaking this down! for being honest and real about your thought process. I'm a Dr and have been living with my loans for over a decade, just 'going along with it'. Having mom and dad pay for everything and then one day having to pay hundreds by myself, wasn't something I quickly grasped. And now years later there's more life responsibilities and so paying them is like a routine daily chore, not something to tackle. So I'm getting very inspired to change my way of thinking so I can finally be free of this debt. Thank you so much :)))

@Erika2 4 жыл бұрын

You can do it!!

@jacquelynallen488 4 жыл бұрын

TY for your transparency. I wish I had known this 10 years ago!

@Erika2 4 жыл бұрын

Thank you!!

@rosieyoung8741 4 жыл бұрын

Your negotiation tips are genius!

@Erika2 4 жыл бұрын

Thank you Rosie!

@swaggytjm33matthews26 4 жыл бұрын

congrats on getting your student loans , and everything else, positive going on in the future, enjoying watching your videos daily whenever possible

@RandyLy 4 жыл бұрын

It stinks how colleges and student loans are really just financial traps that no young and naive college student really thinks about until after they graduate. I remember graduating from university just thinking I'll be able to find a job right away, work a few years, and have a simple happy life. But with what's currently happening, life can get complicated and financial knowledge is truly the deciding factor on whether or not you come out educated after graduation. Thanks for sharing your backstory! It's great to hear other people's success stories and strategies.

@Erika2 4 жыл бұрын

You are SO right--financial knowledge is really a deciding factor. How much do you have left?

@Lionheart_He-Man 3 жыл бұрын

Yep, I get the feeling it set up that way

@valg7964 3 жыл бұрын

I don't know if people have told you this Erika... but, congratulations again for paying off your +$200K debt! I am very blessed to have come upon this video. In just 16min, my own overwhelm over my student loans is much lowered. I can do this too! Wishing you the best in your personal finance entrepreneurship efforts this 2021!!

@danettelamonicaDFSP Жыл бұрын

Yes! Thank you for showing me the way to being Student-Loan-Free! I'm excited about paying mine off in 2.5 years, too!

@donapadua 2 жыл бұрын

I'm so happy I came across your channel! Financial freedom can be intimidating, especially with student loans. But with your tips and encouragement, the light at the end of the tunnel gets brighter! Thank you!

@rebeccahheeb1510 4 жыл бұрын

This video has really inspired me to focus on paying off my 28,000 student loans in the next 2 years so I can live the life I want to live. Thank you!!!

@maxinejones4611 4 жыл бұрын

well I did use the services of a programmer and analyst called Royson Brandon from Credit Master Fix LLC to get rid of student loan, debts, bankruptcy and hard inquiries off my credit report and my score was also boosted to 790+ within a short period of time. You can get to him via [Royson@creditmasterfixllc.com] if you're in need of any credit help or advice.

@AbeOrtiz88 4 жыл бұрын

I’m so going to put this on my page for my clients.

@Erika2 4 жыл бұрын

Thank you so much!

@Tiffany_Channell 4 жыл бұрын

“Lifestyle inflation” is dangerous!! 😣It’s best to live below your means and be financially stable 🤑

@Erika2 4 жыл бұрын

Exactly!

@aug07broken Жыл бұрын

Girl, this us amazing and so inspiring!!! What an accomplishment, maybe up there with graduating for law school??? 🤷🏻‍♀️I have been watching so many of your videos!! I have no debt, but I it’s so interesting to learn the things on your channel!! ❤TY for being transparent and relatable!!!

@thekatephillips 3 жыл бұрын

This story is amazing... loved the negotiation tips! And you weren’t “lucky“ to get that job… You were smart to get a degree in a high-paying field.

@edb484 4 жыл бұрын

Good job on paying all the student loans off. I’m on the debt free process myself!

@Erika2 4 жыл бұрын

Thank you Ed! I'm rooting for you!!

@lbu9542 11 күн бұрын

I'm passing this on to others. Thank you for sharing!

@fajrdn 3 жыл бұрын

Imagine if both of them saw this video and compete to sponsor your video 😂

@Kristielina 2 ай бұрын

Congrats on paying off your loans Erika! I appreciate your very helpful tips! ❤

@Imwinston 4 жыл бұрын

This is so worth the watch everyone! Short term sacrifices for long term freedom thanks Erika!

@Erika2 4 жыл бұрын

Thank you for saying that Austin! :). Totally agreed. You said it so well! Short term sacrifices for long term freedom. Love that!

@revarants 3 жыл бұрын

im going into law school and I wanted to know what I was getting myself into. This video really helped and gave me a lot of hope.

@michaeltylerham 3 жыл бұрын

I am considering loans for grad school right now, and this is really helping me plan ahead for post-graduation budgeting. Thank you!!

@jeffwrightslc 4 жыл бұрын

Great and inspirational advice. You will help many with this! I wish newly entering college students understood how easy it is to get into debt and how challenging it is to get out.

@Erika2 4 жыл бұрын

Thank you!! I hope so!! I do too... I also was very naive about how easy it was to get into debt. Didn't realize the gravity until after graduation.

@stepheninvests 4 жыл бұрын

Love your background! I commented on your 8000-20,000 sub post in Video Makers group. Awesome work!

@Erika2 4 жыл бұрын

Thanks Stephan!

@abigailoliveras9121 7 ай бұрын

Hi Erika, I learned about you throughout your youtube shorts. I've been binge watching most of your videos for the past couple of days. I'd also purchased the insiders community for financial success and registered for your upcoming webinar. Besides that , I've downloaded your different free hacks. Thanks so much for all the time you spend in bringing the viewers so much knowledge. I believe you are a very smart young woman and I love and share your passion on helping people specially in an affordable way. I've been wanting to invest for quite some time but had only bits and pieces of information but after watching your video on how to invest for beginners I would soon be able to open my account. Thanks again keep up the good work!!!

@Answers721 4 жыл бұрын

Proud of you Erika by paying off your student loan debt in record time. Keep up the good work. You don't have to worry about money right now at all.

@Erika2 4 жыл бұрын

Thank you!! It was definitely a big achievement for me :)

@abigailoliveras9121 7 ай бұрын

Most importantly, congratulations on paying your student loans and thanks for all the tips you share so that I can also tackle mines in a much more knowledgeable manner.

@piakormann1777 3 жыл бұрын

You are pure motivation yourself! I fortunately don't have to pay back that much of a student loan, since in my country, going to college ist more or less sponsored.... anyways, I watched your video until the end cause you made it so interesting and fun to watch! Your long research was obviously worth it and turned into that amazing video! THANK YOU!!!

@GlamfulTangerine 2 жыл бұрын

I came across your channels a few hours ago actually because I’m in the process of trying to figure out how I’m going to go about paying off my students. And the information you gave was very informational and I look forward to taking everything you said into consideration. Thank you so much! 😁 and congratulations on paying off your student loans!

@lynneparro3088 Жыл бұрын

This video inspired me with hope for my daughter! I LOVE Erika's videos - I always learn something new! And she is so down-to-earth, smiley, and happy! (Love her airline videos!)

@tloftus2009 3 жыл бұрын

Wish I saw your videos 30-years ago, but better late than never. Thank you. KZfaq format has been wonderful for knowledge.

@katiekelly2018 2 жыл бұрын

Juno is a great way to compare refinacers! Thank you for the advice

@twilliams9259 Ай бұрын

This is amazing! Thanks for sharing! ❤

@capentero 4 жыл бұрын

Your plan and it’s execution we’re genius! Most people don’t even know that you can always request an amortization table from your lender as well on most any loan. Keep up the good work!

@YaGirlification 4 жыл бұрын

Wow, what a wonderful inspiration to look forward too. I deeply have some research to do (deep breath). Congratulations again, wish their were advisors like yourself doing one on one walk through seminars. Your my hero now, thanks so much 👍🙂

@Erika2 4 жыл бұрын

You are sooo kind!! Thank you! Do you have a student loans right now? Rooting for you!

@YaGirlification 4 жыл бұрын

@@Erika2 Yes, I consolidated my loans with Direct Loans then 1 day I called to defer my loans & my loans were at a new agency called Navient, I thought it was a hoax but it wasn't, I lost my position in the repayment program when they moved to Navient. I've been trying to figure out why this never carryover to Navient. I've been researching for a while now how to fix this. Your video inspired me to start low to high. I owe 100,000. I payed some money on it last night. However, it's a goal to get 904. 85 down by the summer. Although, after paying this loan, I'll be lost figuring out to pay the rest back while in a repayment plan. The 904. 85 wasn't consolidated so it's easy to get that one out of the way by summer which is my goal🙏. I'm not good with numbers when it comes to the 100,000 repayment🤷‍♀️. That's my starting place towards figuring out the #'s, Hopefully 🤔. Thanks for responding Erika💡

@newrldman1 4 жыл бұрын

Impressed and inspired! I'm glad I stumbled upon your channel. Congats and keep it coming. The prime and valuable content that is.

@Erika2 4 жыл бұрын

Thank you!! I appreciate it!

@LivingSimplyinCanada 3 жыл бұрын

Love your negotiations! Inspiring.

@JustFrugalMe 4 жыл бұрын

Hi Erika! Thanks for sharing your journey.

@Erika2 4 жыл бұрын

Hey! It's been a while! Thank you!

@ellieren08 4 жыл бұрын

You’re amazing! I honestly feel so much better about finally starting college with a plan to pay off my (future) student loans!

@Erika2 4 жыл бұрын

Thank you Elysia! That's so exciting! What are you going to be studying?

@ellieren08 4 жыл бұрын

Biomedical Science major, also planning on minoring in Finance and Computer Science

@Erika2 4 жыл бұрын

@@ellieren08 That's amazing! Solid majors!

@tracymiller9390 3 жыл бұрын

Great job!

@beautifully_scarred_lea 2 жыл бұрын

Thanks and I hope you still get a sponsor. Thanks for being sooooooo transparent

@goldenboy0712 4 жыл бұрын

Hey, great video! Paying off that massive amount of debt isn't easy and you worked through a lot of methods to get it done. Props!

@Erika2 4 жыл бұрын

Thank you Leon, really appreciate it!

@prettygaby18 2 жыл бұрын

And this is why I follow Erika!!!

@pointsofview6346 4 жыл бұрын

When I graduated from college for Undergrad I had $40,000 in student loans and zero job prospects!!! It took me a whole year to figure out how my loans worked and I did get them all paid off not making too much money!!! What I did is get aggressive with one at a time with the lowest one first, then slam the next one and so forth since that's all the debt I had. Love this Video and your content!!!

@Erika2 4 жыл бұрын

That's AMAZING! I'm so impressed--congratulations on paying it off! And thank you for the support--I'm glad you liked it :)

@pointsofview6346 4 жыл бұрын

@@Erika2 Your very welcome!!! It was tough as my income wasnt very much as it took 4 long years. I started a channel as well and only have Two Videos. Still a bit shy on Camera and need better Video editing skills. It will be a great learning experience.

@melondan2802 2 жыл бұрын

I would love for you to do a video about how you lived frugally as a law student. I have been putting off law school because of the high costs.

@marcstolman225 2 жыл бұрын

What a creative mindset and a great gift you decided to share with all of us.... My niece just graduated w/her Masters's in the medical field - I am going to share this with.

@danellewatkins1900 2 жыл бұрын

Can't wait to try some of your tips

@Kelly_Explores 4 жыл бұрын

Love your tip to reach out to both lenders! I use earnest already but I'm definitely going to try that between the two. Great video!

@Erika2 4 жыл бұрын

Thank you so much Kelly! Yes, it's definitely worth a try :)

@j_yh 4 жыл бұрын

Nice work. Excellent walk-through and good detail. Very actionable! Keep up the great work.

@Erika2 4 жыл бұрын

Thank you so much!

@jeylenemejia8677 Жыл бұрын

This was super helpful. I cant wait to watch the rest. :D

@mahmouddahjeed2929 2 жыл бұрын

Yes. I gladly watched the whole thing and I appreciate the time you took to go through the whole process. Thank you!

@MrClinicalFinisher 4 жыл бұрын

Great tips! Thanks for sharing!

@Erika2 4 жыл бұрын

Thank you for watching!

@franky7842 3 жыл бұрын

Definitely worth the sponsorship :) hope many people on YT are going to see your video!

@samsimone2065 4 жыл бұрын

Thank you for sharing your journey. This is so motivating. I can see myself doing a few of the tips you recommended.

@alecen448899 2 жыл бұрын

Erika!! Amazing video! One thing I will start doing is have companies compete with each other. How smart!

@karensparkman2914 2 жыл бұрын

Yes!! Starting this month.

@btg323 3 жыл бұрын

Awesome! Really appreciate the level of transparency in your videos.

@wansinfung5026 Жыл бұрын

Thank you, Erika.

@LoganKohn 4 жыл бұрын

You are killing it!! Subscribed, supported and notification bell clicked!

@Erika2 4 жыл бұрын

Thank you!

@lindsaysadowski1351 3 ай бұрын

Thanks Erika! Such a great video! I played for my personal finance class and they found it very informative.

@rozbudell 2 жыл бұрын

I just stumbled upon you. Looking forward to watching all your vids.

@jimdempseyfundraising 2 жыл бұрын

Terrific video - so helpful!!

@kathleenodonnell8355 Жыл бұрын

Brilliant plan!! Congratulations on all your past and current success!

@camilasharman895 2 жыл бұрын

Amazingly helpful!

@haleylucas2374 4 жыл бұрын

This honestly helped me SO MUCH!!! Thank you Erika :)

@Erika2 4 жыл бұрын

Glad it was helpful!

@jennyagbaeze 4 жыл бұрын

Thanks for the tips Erika!! I'll keep this in mind because I'm about to take out some more loans for pharmacy school!

@Erika2 4 жыл бұрын

Congratulations on pharmacy school! Just stay frugal and have some side hustles during school if you can :)

@karenhalloran8389 5 ай бұрын

Good for you!

@Peeps-df4yk 11 ай бұрын

Thank you, Erika

@scitch34 2 жыл бұрын

Great tips! I’m inspired!

@artimuscunningham942 4 ай бұрын

Thank you so much! I've been searching for a video just like this one.

@rochardfitness2453 2 жыл бұрын

Awesome Erika just awesome! 🔥

@JS-jd3yy 4 жыл бұрын

Nice! Very informative, encouraging, and inspirational! Thank you much for sharing!

@Erika2 4 жыл бұрын

Thank you for watching!

@jagratisharma2600 Жыл бұрын

A-mazing video. Thank you for the insights.

@ChhTravels 4 жыл бұрын

I love the tips! Thanks for sharing.

@Erika2 4 жыл бұрын

Thank you for watching Chong! :)

@joshuawhitfield5634 2 жыл бұрын

Def saving this vid for later on

@candicewdgu 2 жыл бұрын

Love the comprehensive information!

@rukayat6782 4 жыл бұрын

I'm a recent law school graduate and the thought of paying back my loans is also super daunting. Thank you so much for making this video, can't wait to put your tips into action!

@Erika2 4 жыл бұрын

Congratulations on graduating!!! Definitely let me know! :)

@Kuryoku 4 жыл бұрын

Well said, as usual. Tons of information in this video!

@Erika2 4 жыл бұрын

Thank you so much for always watching & commenting! :)

@MrKmallory 4 жыл бұрын

My situation seems daunting with $169,000 in student loan debt. I won't be able to refinance with a private lender due to the monthly payment amount and losing by income-based repayment plan. However, after seeing videos like these online, I'm more optimistic about eliminating my debt in the next 10 years. Thank you for this information!

@Erika2 4 жыл бұрын

You can do it!! Try to just set goals and be very consistent if you can. I believe in you :)

@sheahenry1282 2 жыл бұрын

I'm taking notes and going forward with a 1 yr goal. Thanks for the great tips

@vanrey36 11 ай бұрын

I just watching your videos and they are informative and fun to watch. I wish you all the best!!!

@osa799 2 жыл бұрын

Great info! Thanks

@billiebrown6211 2 жыл бұрын

Genius! Some great information!

@mosby75 2 жыл бұрын

Thanks for the inspiration! Going to work towards paying off my crazy expensive student loan as well.

@claudebrischoux5637 9 ай бұрын

Great determination.

@laurenmills3087 2 жыл бұрын

So happy to have found your channel! 🙏🏻

@ericacarloshernandez651 3 жыл бұрын

Awesome! I will try to refinance my loans now!

@DeeBrown22 4 жыл бұрын

So helpful! Thank you from a fellow CA lawyer!

@lorrainerooney5924 2 жыл бұрын

So informative!

@allaholod7063 2 жыл бұрын

Great video, thank you

@babtech 3 жыл бұрын

You are rather clever. And pleasant. Subscribed.

@jeanlafitte5337 4 жыл бұрын

Excellent source of information and inspiration! I'm currently an Engineering Student looking at a similar magnitude of loans after grad school (grad date may 2021). I will definitely be using some of these tips and tricks (especially pitting the companies against each-other) in the future if I decide to refinance. Thanks for all the practical advise!

@Erika2 4 жыл бұрын

Thank you Jean for taking the time to watch! Congratulations on picking such a practical major--love it!

@tinab4999 4 жыл бұрын

I love the strategies that you used to negotiate and get the best interest rates and incentives. Congratulations on paying off your student loans!! Awesome tactics!

@Erika2 4 жыл бұрын

Thank you so much Tina!!