The Update

How to Crush Credit Card Debt While in College

Credit card debt in college? Yeah, it’s stressful. Between tuition, textbooks, and late-night coffee runs, it can feel impossible to get ahead. But here’s the truth: paying down debt on a student budget is totally doable if you have a plan—and a little discipline.

Know What You Owe.

Grab a notebook or open a spreadsheet and list all your credit cards, balances, interest rates, and minimum payments. Seeing everything in one place might sting a little, but it’s the first step to taking control. Once you know your numbers, you can start tackling your debt strategically.

Game Plan

Two tried-and-true methods work well for college students: the snowball method and the avalanche method. The snowball method is all about quick wins—you pay off your smallest debts first. Even if they don’t have the highest interest, wiping out balances fast gives you a psychological boost and keeps you motivated.

If high interest rates are giving you anxiety, the avalanche method is your friend. Here, you tackle the highest-interest debt first, which saves you money in the long run. You might not see balances disappear as quickly, but your wallet will thank you later.

Pay More

Whatever method you choose, pay more than the minimum whenever you can. Even an extra $10 or $20 a month can make a huge difference over time. Think creatively about where to find extra cash—pick up a side hustle, sell stuff you don’t use, or cut back on streaming subscriptions. Every little bit adds up.

Also, don’t let your credit card habits sabotage your progress. Avoid adding new charges while paying down balances, live within your means, and track your spending. Building a simple budget and setting clear goals makes the process way less stressful.

The key takeaway? Paying off credit card debt in college is tough, but you can do it. Know your numbers, pick a method, pay extra when possible, and stay consistent. The money habits you build now will not only help you get out of debt faster but also set you up for a solid financial future after graduation.

Take control of your finances today—your future self will thank you.

RGCU Financial Coaching

At RGCU, we offer free financial coaching for college students. Our certified coaches can educate college students on a variety of subjects related to money management, credit, and planning for the future.