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Month: May 2018

USAGov’s 6 Things to Know Before You Start Paying Off Your Student Loans

Nothing says, “Welcome to adulthood” quite like getting your first student loan bill in the mail. Though this can be a stressful start to the process, there are many ways to manage your student loans. One important resource to get to know is StudentAid.gov[1]. The site offers many tips and resources for managing your college loans.
Four in ten adults under 30 in the U.S. have student loan debt. It’s important to know if your loans are public (from the U.S Government) or from a private institution. USAGov can provide you with the information and resources[2] needed to manage a loan or resolve disputes, but having a plan is key. Here are six great tips from StudentAid.gov that can help you start the process of paying off your student loans:
1. Choose an affordable payment amount
There is no one-size-fits-all approach to paying back student loans. Do you want to get rid of your loans quickly or pay the lowest amount possible per month?
The Standard Repayment Plan, the plan you’ll be entered in if you don’t take any action, will set you up for a loan plan that will need to be paid off in ten years. If you can’t afford that amount…

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