When I had my exit interview, the financial aid counselor asked if I knew how much I had borrowed. I told her what I knew it to be. She laughed and said that I was probably wrong as most students have no idea how much debt they have accrued.

I asked her to recheck the paperwork because I had been keeping record of how much I borrowed and only borrowed the minimum that I was eligible for throughout my college career. When she looked at my file, she made an embarrassed apology and said that she must have confused me with someone else and that her experience was that most students didn't know their full debt burden.

My wife and I paid it off in five years. We were lucky, though. We were married in our last year of school and were used to living with few luxuries. We decided to keep living as simply even though we were lucky enough to both get jobs not long after graduating. We read all the requirements and prepayment guidelines and followed them to the letter which helped knock the time down tremendously. When we got within a couple thousand, my in-laws paid off the rest with a no-interest loan that they made to us.

Not everyone has those circumstances, I know, but the biggest realization was if we would be okay with living well below our means for a few years, we would be better off in the end. I have friends that I think are still paying off loans due to deferments, unemployment, and amount they received.

I don't know if it would work for everyone, but it is worth a shot and can't hurt to just have that stored away when you appeal to your university.

I ended up with around 80k in loans, but I was dumb about my living expenses (I went to college in my late 20s, and had a certain living standard I wanted to maintain, which was a mistake).