Find out what your exact loan payments will be and which income-based repayment option is best for you at Student Loans.
Here are a few more helpful tips for repaying your loans:
- Paying extra on your student loan each month can save you from spending more money in interest over time. By doing so, you also get your loan paid off months or even years early!
- Prolonging your repayment term will reduce your monthly payments but extends the loan term to 20 or 25 years. This increases the total interest paid over the life of the loan (even double your interest in certain cases). Unless you are using Public Service Loan Forgiveness, consider sticking with the shortest loan term you can afford in order to save money in the long run.