A bonus from your company is a great way to begin the year, especially if you have a tidy pile of student loan debt to tackle.
Knowing how much of your bonus to apply to your outstanding loans is a question without a one-size-fits-all answer, but there are steps you can take to find out the right solution for you.
Have other ideas for your bonus or tips for others paying off student debt? Kaitlin Butler is Content Manager at Common Bond, a student lending platform that provides a better student loan experience through lower rates, exceptional customer service, and a commitment to community.
Common Bond is also the first company to bring the 1-for-1 model to education and finance.
Your first step is to understand the tax considerations.