What student loans should I get?
– Subsidized Direct Loans. These federal loans have a fixed interest rate and the government pays your interest while you’re in school. – Perkins Loans. Colleges lend students federal money to pay for school. Available to undergraduate and graduate students. – Unsubsidized Direct Loans. While these also carry a fixed interest rate, you’re responsible for repaying all the interest that accrues while in school. – Direct PLUS Loans. Allows parents of undergraduate students or non-dependent graduate students to borrow money. Parents can help students pay for education. – Direct Consolidation Loans. Borrowers can consolidate all of their federal loans into one monthly payment. Gives borrower one bill to pay each month instead of multiple bills. – Private Loans. Money is lent to borrowers by private institutions like banks, credit unions and state agencies.
How do you pay off student loan debt?
The best way to pay off student loans basically comes down to three strategies: Make more than the minimum monthly payment. Put extra money toward the account with the highest interest rate. Make bi-weekly payments or enroll in automatic payments to reduce interest.
What are the requirements to get a student loan?
To be eligible for federal student loans you must be a U.S citizen with a social security number. You must have a high school diploma, a GED certificate or have passed an alternative exam.
Which employers offer student loan repayment?
Google. During the pandemic,Google launched an update to its student loan repayment assistance program designed to further benefit its employees.