Student Loans
A student loan is a type of loan designed specifically to help students pay for post-secondary education and associated expenses, such as tuition, books, and living costs.
Public Service Loan Forgiveness (PSLF)
Teacher Loan Forgiveness
Income-Driven Repayment Forgiveness
Loans
Pros
Strategic Approaches of Student Loan
Borrowing
Responsibly
Students should only borrow what is absolutely necessary
Understanding Terms
Making informed decisions upfront can prevent financial strain.
Refi & Consolidate
Graduates with good credit and stable incomes can explore options
Repayment
Prioritizing high-interest loans can save money in the long run.
Repayment options
Federal student loans
Repayment options
Federal loans offer a range of repayment options:
- Standard Repayment Plan: Fixed monthly payments over 10 years.
- Graduated Repayment Plan: Payments start lower and increase every two years over 10 years.
- Income-Driven Repayment Plans (IDR): Monthly payments are based on income and family size.
Federal student loans
Federal student loans offers,
- Deferment: A temporary pause on payments where interest may not accrue for subsidized loans
- Forbearance: A temporary pause where interest continues to accrue) for borrowers facing financial hardship.