8 Federal Student Loan Repayment Options More For many students graduating from college with debt, figuring out which student loan repayment plan is the best fit to pay back their federal loans may be easier said than done. Getty Images Nearly half of first-time, full-time degree...
These loans charge interest, the cost of borrowing money, on the total amount of money borrowed, and for many of them, repayment starts after graduation. Borrowers have many options for repaying their loans including standard, graduated, and income-based repayment plans. Read Student Loan ...
Theextended repayment planallows you to make low monthly payments for the duration of your loan, which will require paying for a longer period. For many student loans, you can extend the repayment period to up to 25 years, which you will need to do in order to repay all the principal an...
As a general rule,the Department of Education looks at a couple’s ability to pay the debt and calculates discretionary income for the couple rather than the individual. For married couples who both have federal student loans, this means that the math will get a little more tricky, but house...
Be aware of any deduction options when filing taxes. It may be possible to reduce your taxes by taking a deduction. Please speak with a tax professional before exploring this further. There are certainly additional strategies to help pay off student loans than those listed above, and you should...
If you are in default we can help you find some of the best Federal mandated rehabilitation options. REPAYMENT PLANS For your Federal Student Loans, there are plenty of options that are allowed by Federal law. We can help find the best option that you may qualify for and assist in the ap...
Student loans: Graduates need to learn about student loan repayment optionsKathy M. Kristof
If you’re struggling to repay your student loans or facing the possibility of default, an IDR plan probably makes sense for you. But they aren’t without their drawbacks. It pays to research all your options, including the possibility of picking up aside gigto get those student loans paid...
Use the student loan repayment calculator from Discover Student Loans to see how extra payments can reduce the cost and duration of your loan.
There are a number of options to choose from when repaying federal student loans. Get information from Better Money Habits on different types of student loan repayment plans.