Phantasm
Banned
Gaining control over the student loan repayment can be frustrating, but it is very important to know your choices so as to have a proper debt management: start by being familiar with what category of loans you are in, federal or private because Federal loans provide additional flexibility and benefits. Examples of repayment plans include Standard, Graduated, Income-Driven Plans which are IBR, PAYE, REPAYE, ICR respectively. Another choice for those working for qualified public employers is Public Service Loan Forgiveness (PSLF). Loan consolidation simplifies repayment but does not necessarily reduce interest rates. Be updated on changes in the terms of your loan and explore forgiveness programs such as Teacher Loan Forgiveness. Seek assistance from your loan servicer if necessary. Develop a payment schedule and seek advice from financial consultants if needed. Do not forget to evaluate your personal situation and select a plan that will support achievement of these objectives: consult experts where required.
