How to Earn Extra Money from Your Main Job to Help Pay Off Student Loans

Raining Extra Money

As discussed on this website in several prior posts, there are many side-hustles that anyone can work in order to make additional money to help pay down student debt. However, you can also employ strategies when choosing your primary job so that you make extra money to pay off student loans. Even if you work several side-hustles, the money you earn from these part-time gigs will likely be far less than your income from a primary job. As a result, choices you make concerning your main job can perhaps have a bigger impact on your student loans than working part-time gigs.

During my student debt repayment saga, I made many choices about my primary “9 to 5” jobs that helped me devote additional money to my student debt. It might seem obvious, but the main way you can impact your ability to pay off student loans is by having a higher salary at your main job. Since it is most important to pay off student loans as early as possible because of capitalizing interest, the salary you earn at your first job after graduating from college or graduate school can have a massive influence on the fate of your student debt. As such, it is best to pick a job right after graduating that pays you the most money, so that you can have the biggest impact on your student debt as soon as possible.




There are some people that choose to take lower-paying jobs right after joining the workforce, usually to enter a public interest field. I personally have friends who worked at Teach for America, AmeriCorps, and other public-service organizations shortly after graduating, and these jobs usually do not pay enough money to make an impact on your student debt. Although it is noble to enter a lower-paying public service job after graduating from college or graduate school, your student loans are a financial emergency that must be addressed immediately. I personally chose to work at the highest-paying job available to me after graduating from law school. I knew that I did not want to work at this job for an extended period of time, but I understood that this gig would enable me to have a massive impact on my student debt as soon as possible.

Even if you take a higher-paying job shortly after graduating from college or graduate school, this does not mean that you can never pursue public service work. After paying off my student loans, I was able to seek out job opportunities that did not pay as much, but are more fulfilling. Indeed, I was recently accepted into the Reserve Component of the U.S. Army JAG Corps, and I only felt able to pursue this public service opportunity after I paid off my student loans. All told, if you can defer public service or other aspirations for several years, working at a higher-paying job right after graduating from college or graduate school can make a huge impact on your student loans.

Other aspects about your primary job other than your salary can also impact how much extra money you earn to pay down student debt. For instance, one of the law firms at which I worked had a bonus system in which employees earned a set bonus depending on how many hours they billed to clients.

Even though my job with this bonus system did not pay as much as other opportunities, I knew that if I worked hard, I could earn a bonus and devote this extra money to my student debt. While employed at the job that offered this bonus structure, I worked additional hours during weekends, and I rarely took a day off from work so that I could bill more hours to our clients. At the end of the year, I billed enough hours to earn a sizable bonus, and I used this additional money to pay down my student loans. Many people in a variety of fields can earn bonuses based on the amount of time they work, and it is advantageous to work jobs that offer this bonus structure when trying to make extra money to pay off student debt.

A few of the firms at which I worked also offered bonuses to employees who originated business. Like a sales commission, I received a set percentage of all money I helped generate for my employer. It was extremely difficult for me to sign new clients and obtain this bonus, since it is hard for young attorneys to make the connections necessary to originate new business. However, after attending numerous networking events, and after cultivating many contacts, I was able to sign a few new clients. During my student debt saga, I made thousands of dollars through origination bonuses, and I used this money to pay down debt.




Many people in a variety of fields can also make extra money by originating new business. I have friends in sales who receive commissions on all new business they generate, and professionals in consulting, accounting, lobbying, and a variety of other fields can earn bonuses for generating work. All told, origination bonuses can help you pay off student loans, and it is important to look for jobs that offer this kind of incentive.

In sum, your primary job is the main source of money you can use to pay off student debt, and it is important to make as much money as you can early in your career because of capitalizing interest. Additionally, many jobs offer bonuses that provide additional opportunities to earn extra money, and such incentives can help you pay off student debt. By maximizing the money you make from your primary job, and by working the side-hustles discussed on this website, you will be in the best position to conquer your student debt.