Federal Student Loan Benefits: The Perks and Borrower Protections
The benefits of federal student loans go far beyond interest rates.
There is a long list of resources to knock out federal and private student loans. For many borrowers, the ideal approach will be a combination of some of the programs below.
If you are brand new to student loan repayment, this guide is a helpful starting point.
The benefits of federal student loans go far beyond interest rates.
The minimum salary to afford student loan payments will depend upon many factors including: loan balance, interest rates & loan type.
Finishing school and not being able to find a job is scary, but help is available so that borrowers can keep their student loans under control.
A gap in repayment may delay student loan forgiveness, but borrowers usually don’t have to start over.
Using home equity to pay off student loans can work in some circumstances, but this strategy has major risks.
Quickly repaying student debt is a great way to save on interest and often the responsible choice, but this strategy does have risks.
Forbearance and deferments don’t usually count towards student loan forgiveness, but the Covid-19 payment pause is an exception.
Tracking down student loan advice usually isn’t hard, but it is really important to verify what you are told.
Yearly income certification trips up many federal borrowers and this problem could easily be avoided by automating the process.