4 Faith-Based Ways to Reduce Student Loan Debt Stress

With constant dollar signs flashing for tuition, books, housing, and the cost of living, it's easy to feel stressed about not only making ends meet in college but also staring at what can feel like a looming student loan debt to pay off once you've graduated.

And, with the average student loan debt currently at $38,375, it can feel like a monumental sum.

So, it's no surprise that one study reported that an average of 72.5% of students feel anxious about their personal finances.

But here's the good news: God doesn't want you to carry this burden alone. He calls us to be good stewards of our money while trusting Him to provide. That doesn't mean ignoring your student loan debt or your finances — it means navigating it all wisely and leaning on His promises when the numbers don't seem to add up.

If you're feeling weighed down by student loan debt, here are four ways to manage the overwhelm while trusting the Lord in all things.

"Don't worry about anything; instead, pray about everything. Tell God what you need, and thank him for all he has done. Then you will experience God's peace, which exceeds anything we can understand. His peace will guard your hearts and minds as you live in Christ Jesus." - Philippians 4:6-7 NLT

4 Faith-Based Ways to Reduce Student Loan Debt Stress

1. Create a Responsible Budget

Creating a budget may sound like a chore, but it's one of the best ways to steward your finances and reduce some of the stress you feel about student loans. When you have a plan in place for how you spend your money, you can feel better prepared to both spend and save intentionally. 

Jesus Himself talked about the importance of planning in Luke 14:28, which reads, "But don't begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it?" (NLT).

Here are some apps that help make budgeting simple and easy:

• Goodbudget – This virtual budget program keeps you on track with the time-tested envelope budgeting method.
• EveryDollar – Created by personal finance expert Dave Ramsey, this one helps you track every dollar you make.
• YNAB (You Need a Budget) – Every dollar has a job with the YNAB method, simplifying spending decisions while clarifying priorities.
• PocketGuard – This all-in-one money management platform helps you make informed decisions.

These apps take the guesswork out of the spend, save, and give process, while apps like Rakuten can help put money back in your pocket. Also, when you're adhering to a budget, there are lots of other money-saving hacks and tips for clothes and other college student shopping essentials to reduce financial stress.

Finally, online tools like college cost calculators help you easily estimate how much you may need to budget in light of student loans as you take into account your total expenses. The more you plan, the less stressed you'll feel.

2. Seek Wise Counsel

Godly counsel from wise and trusted individuals, like counselors or mentors, serves many purposes in a Christian's life, including providing guidance for stressful times on the path of financial stewardship. The DBU Financial Aid office is also a great resource for any questions you may have about loans and budgeting. 

They've often been in your shoes and have wisdom to share. This type of counsel can help alleviate some of the anxiety you may feel, simply by talking to someone who understands and can help provide Godly perspective about student loan debt and so much more.

Proverbs 15:22 reminds us that "plans fail for lack of counsel, but with many advisers they succeed" (NIV).

3. Take a Financial Literacy Course

Another action step you can take is enrolling in a financial literacy course. Educating yourself about finances can help things like student loan debt feel less overwhelming.

DBU offers two courses to help you invest in your financial literacy.

• Personal Financial Planning: This course provides a broad overview of the financial planning process with areas of emphasis that include cash and debt management, life and health insurance, investments, college funding, retirement planning, and estate planning.
• Corporate Financial Management: This course covers financial markets, financial statement analysis, financial planning, time value of money, loans and interest rates, debt policy, and beyond.

These courses can help you feel better informed with the knowledge and tools to make smart decisions now and in the future.

4. Trust That God Will Provide

Budgeting, learning, and planning can help you feel better equipped to manage student loan debt, but only God will bring true peace.

Philippians 4:19 reminds us, "And my God will meet all your needs according to the riches of his glory in Christ Jesus" (NIV).

Of course, this doesn't mean that you should sit back and do nothing, but it does mean you don't have to live in anxiety, overwhelm, or fear. True security is found in the Lord. When you apply Biblical principles to your student loan debt and you faithfully save, carefully spend, and thoughtfully invest in the eternal, you can put the rest in God's hands.

Additional Resources

While student loans are incredibly helpful to support your college education, they can also feel like a burden and a stressor. You're not alone in feeling overwhelmed and wishing for immediate student loan debt relief.

But with wise budgeting, Godly counsel, growing your financial literacy, and trusting in God's provision, you can navigate it all with a greater sense of confidence and peace.

In addition, check out these additional apps and websites:

• Faith and Finance offers articles, tools, and resources to help Christians manage their finances.
• Crown Financial Ministries offers resources, tools, and courses aimed at helping individuals manage their finances according to Christian values.
• Albert is an app that guides you in your financial decisions.
• Scratch helps borrowers understand, manage, and repay loans.
• SaverLife helps you to create a habit of saving.

You may also want to explore student loan forgiveness in Texas. For example, careers in teaching, government, nonprofit, the medical field, and more are all potential ways to obtain loan forgiveness, meaning you may be able to get your federal student loans forgiven, canceled, or discharged. That means you won't have to pay back some or all of your loans.