How to Pay Off Your Student Loans

Today, I’m going to chat about how I finally finished paying off my student loans… and how you can do it too!

I graduated PT school in 2008, so it took me around 11 years to pay them off. Some people take two years, some longer than me.

I’m here to tell you that your student loans don’t have to be a burden. They may feel like one, and that’s okay, but they don’t have to be.

So, what did I do to pay back mine?

Here are four concrete steps I took:

  1. I set up a graduated repayment plan
  2. I invested in learning business
  3. I scaled up my business by hiring team members
  4. I made minimum monthly payments and paid large chunks when I could

But the main answer is simple: I didn’t stress about them. Instead of paying back my loans right away and putting the life I wanted on hold, I lived the life I wanted. I invested in other things that I knew would grow my business 10x—like working with business coaches and attending live events—so that down the road, I would be able to pay them off. But that wasn’t on my mind. My investments were made so I could help as many people as I could in my two businesses.

Making smart investments is something you have to do as a business owner. For instance, the massage table I bought from 1997 for $900 is one we still use today. It’s that investment that paid for itself in 12 massages and has done nothing but make us money since.

If I had let my student loans get in the way of my investing and more importantly, my life, I would have been miserable.

Student loans are not bad debt. Don’t let them become a burden and focus on growing your business for the reasons you want to grow it.

If you want to know the specific marketing and growth strategies we use to grow our business (plus hear all of our world-class speakers!), then get your seat at PT Biz Con 2020 before they sell out!

 

 

About The Author

Aaron LeBauer

Aaron LeBauer PT, DPT, LMBT started a 100% cash based physical therapy practice right after graduation. He's on a mission to save 100 million people from unnecessary surgery & enjoys helping passionate therapists build successful businesses without relying on insurance.

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