Last week I was talking with Andrew Josuweit about the best way for graduates to go about repaying their student loans.Josuweit is the CEO of Student Loan Hero, a free Website that helps graduates manage student loans.He’s also no stranger to being overwhelmed with student debt.
The smartest way to repay student loans depends on your income and expenses both now and in the future.
In some cases you’ll want to defer or reduce payments to increase cash flow while money is tight.
Here, we look at all the options for paying off student loans — from deferment to consolidation, and more.
October marks the end of the six-month grace period on many federal student loans.
For recent graduates, that means the free ride is over and you’ll have to start making monthly student loan payments.
Whether you’re just beginning to repay your student debt or have been slogging through payments for several years, you’ve probably wondered “Am I going about this right?
” Could I save money on my student loans by consolidating or refinancing?
Alternately, if your monthly student loan payments are making it hard to get by, maybe you’ve wondered if deferment, forbearance, or an income-based repayment plan could help with your monthly cash flow.
“The websites servicing the loans were form like 1995 and it was a terrible customer experience.” As if staring down 0K in debt wasn’t bad enough, trying to keep track of 16 different loan balances, interest rates and monthly payments is a headache and a half.