How should I manage my student loans effectively?

Debt

Hi personalfinance, I thought I'd post for some much needed advice. I have roughly 40k$ in student loan debt. I have until recently been just paying interest on my two loans 10k $ (private) 30k$ (federal). I just started a trade apprenticeship which has a lot of overtime and prevailing wage opportunities. I want to find an effective way to pay these loans off. My goals right now are to get rid of the 10k $ loan right away. Currently saving 150$ a week towards a 600$ per month payment (I pay 62$ in interest on this loan right now, 155$ in interest on the other). I'm uncertain if this is a good way to go about my payments, it really stinks just to pay the interest on my federal loan but the next highest payment plan is a lot of money. Are there any loan programs I should be aware of or refinancing options that anyone has used that might help? I do go to a part time apprenticeship school right now if that can be useful... If anyone has had a similar experience or could give any advice it would be very appreciated. Thanks!

Posted Feb 21, 2016, 9:40 PM UTC

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