2 Ways to Re-Pay Your Student Loans? Qoins #TipTuesday

2 Ways to Re-Pay Your Student Loans? Qoins #TipTuesday


what’s up! today we’re going to be talking
about the best ways to pay back your student loans… when you’re on a tight budget. So
there’s 2 options your student loan provider can offer. First is student loan forbearance,
which actually puts your student loans on pause for a set number of months. however,
during this time interest will accrue and you’ll still be responsible for paying it
back. Next is income based repayment. This is typically the better alternative to forbearance,
which cuts your payments to a portion of your income. So pretty much, you’ll pay based on
how much you make. Now while paying less per month will still cause interest to grow, income
driven payments have the added benefit of offering forgiveness after 20 or 25 years
of repayment. And, if you start earning a little bit more
money and can afford to pay more, you can always put that extra on top. So if you feel like you can’t pay back those
student loans, be sure to first ask for help. be sure to Stay informed and know what type
of student loan provider you’re dealing with. Yeah that was it… that’s all I got.

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