How to create a student loan repayment plan

How to create a student loan repayment plan

The Biden administration is looking to extend the pause on federal student loan repayments to August 31.

Put a plan in place to pay off this debt and work on your long-term financial goals.

Study your payment plan. With federal student loans, you can choose your payment plan options.

Find out how much you owe in student loans and how much you can afford to pay each month.

Consider loan consolidation if you have taken multiple student loans from multiple servicers.

If your bank account makes automatic payments, you receive a 0.25% interest deduction on your federal student loans.

If you go into public service, the Public Service Loan Forgiveness Program forgives the balance on your loans.