Did you hear there’s a repayment plan with $0 payments? Or that you can postpone payments for as long as you want? Well, with student loan info, sometimes the toughest thing is figuring out the fact from the fiction (and everything in between). These differences could literally cost you, so we enlisted loan expert Ashley Norwood to bust the myths. Today: a forbearance that sounds too good to be true (but isn’t!).
It has been almost 6 months since I officially finished my last semester of school. And while that timing marks the beginning of repayment for many borrowers, for me it marks the halfway point of how long I gave myself to repay my grad school costs.
I am happy to report that I have stayed on track and plan to meet my deadline. Here’s how I’ve done it—and how you could put a dent in your debt too.
Wasn’t graduation great? No more classes. No more exams. No more putting up with awful roommates (hopefully).
Well, it’s been almost 6 months since May, and you know what that means, don’t you? If you took out federal Stafford or PLUS loans, your grace period is almost up and your first payment will be due soon.
Because we don’t want you to suffer from any Gunpowder Plot-level debacles (not that that failing was a bad thing), let’s make sure you’re prepared for repayment.
In honor of Veterans Day, we marched straight out of the archives one of our favorite posts: Ashley Norwood detailing all the ways the government salutes student borrowers who are servicemembers. And while she originally chided herself for not publishing this in time for Memorial Day, this “Operation: Ashley Archive” makes sure we thank everyone who has served in a timely manner. (Though not with that “Operation” name. We’ll come up with something better.)
If you graduated in May, your grace period is ending and your first student loan payments will be due any week now. Are you ready? Confused? Scared?
Aaron Weber spoke with Mike and Christa, two of the most experienced student loan counselors with SALT™, about the most common questions borrowers ask when they call them. Check out their answers.
With student loan grace periods coming to a close, we’ve highlighted people (and more people!) who aren’t exactly thrilled to make their first loan payment. But one thing they should be happy about? The fact that they didn’t miss that payment.
It’s always important to stay on top of your loans, but that’s especially true when you start out. Entering repayment can be confusing, and even if your lender doesn’t contact you, it’s still on you to hit that first payment date. Because if you don’t, nothing good awaits. Check out this infographic to see what can happen if you miss student loan payments—and what you can do to avoid it.