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How to pay off a huge debt in five years

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Phil DeGisi finished business school  laden with debt — $150,000, to be exact. He's not alone. Many students who borrow to fund their studies have a similar story.

But unlike most , DeGisi hunkered down, cut his spending and paid off his debt in  six years, propelling his finances into the black and saving thousands of dollars in interest.

Although it may sound out of reach, paying off a large sum of money in a short space of time is possible — if you plan ahead.

To find out just how, Kelsey Hubbard spoke to the experts in the video above.

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