Starting to pay off your student loans while you are still in school can add up to significant savings. Even small payments will reduce the amount of accrued interest, meaning a smaller amount will be applied to your loan upon graduation. Keep this in mind every time you find yourself with a few extra bucks in your pocket.
Double check all applications for errors. This is crucial because any mistakes could affect how much aid you are offered. If there is any doubt in your mind that you filled it out right, you should consult a financial aid rep at your school.
Be aware of all your repayment options. Look into getting graduated payments if you are having financial troubles. Your payments will be smaller and will increase later on.
Make sure you understand what your repayment terms are. Loans vary concerning grace periods. Additionally, there may be allowances for forbearance and other circumstances. It is important to know the details about how your loan must be repaid. You have to know this stuff up front.
No comments:
Post a Comment