Student Loans: Conclusion
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  1. Student Loans: Introduction
  2. Student Loans: What Can You Afford To Borrow?
  3. Student Loans: Federal Loans
  4. Student Loans: Private Loans
  5. Student Loans: Loan Repayment
  6. Student Loans: Repayment During Financial Hardship
  7. Student Loans: Paying Off Your Debt Faster
  8. Student Loans: Federal Loan Consolidation
  9. Student Loans: Private Loan Consolidation
  10. Student Loans: Conclusion

Student Loans: Conclusion

By Reyna Gobel

Let's recap what we've learned about student loans:

  • How to pay for college is as complicated and as important a decision as which college to choose, what to major in and whether to live on or off campus.
  • Only borrow what you can afford to pay back after graduation based on income estimates in your career field.
  • Filling out a FAFSA form is crucial to securing student aid.
  • Exhaust federal funding options before applying for private loans.
  • Most private loans have variable interest rates, and initial rates vary based on yours or your cosigner's credit rating.
  • The standard federal loan repayment program lasts 10 years.
  • Public service employees and others with low incomes have additional options for repayment based on annual income.
  • Federal loan programs offer options for postponing payment during a financial hardship situation.
  • Federal consolidation can extend your loans up to 30 years.
  • Consolidating private loans is the best way to secure a fixed interest rate on your private student loans.
  • Managing your student debt borrowing based on what you can afford to repay is the best way to get an education and avoid financial trouble down the road.

  1. Student Loans: Introduction
  2. Student Loans: What Can You Afford To Borrow?
  3. Student Loans: Federal Loans
  4. Student Loans: Private Loans
  5. Student Loans: Loan Repayment
  6. Student Loans: Repayment During Financial Hardship
  7. Student Loans: Paying Off Your Debt Faster
  8. Student Loans: Federal Loan Consolidation
  9. Student Loans: Private Loan Consolidation
  10. Student Loans: Conclusion
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