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Q: My wife and I have combined salaries of $80,000 but still owe more than $30,000 in student loans. What’s the fastest way to get rid of our student debt?

Diana says...
That’s a great question and is one that can be applied to getting rid of any type of debt. First, based on your income and expenses, set a realistic time frame for being loan-free. For example, if you want to be rid of that $30,000 debt in eight years, pay a little more than $300 a month between the two of you. Boost your payments to $500 a month, and you’ll say goodbye to those student days in just five years!

Diana Cawfield is an award-winning financial writer with more than 10 years of experience. Click here to send her your questions.