shaadi com speed dating chicago - Advice for consoladating school loans

Here are 10 tips that can save you some headaches and money, regardless of whether you just finished school or are already paying on student loans. If you’re not sure what kind of loans you have, you can visit the National Loan Data System at to see federal loans.

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But grads have many options for making student loan payments more manageable, even putting them off, if they qualify.

The key is to avoid missing payments, which can scorch your credit score and even lead to having your wages garnished.

But if you can't afford your monthly payments under that standard plan, you may be able to extend the length of time to pay back the loan up to 25 years.

That will lower the monthly payment, but you will pay more over the life of the loan.

Consolidating your loans can help you manage your debt because you only need to keep track of a single, lower monthly payment for all your loans.

But your loan term will also increase, which means you'll be paying more in the long-run.

"If you're actually trying to save money, it's not always in your best interest to consolidate," Josuweit said.

In addition, you will no longer be able to take advantage of some of the perks built into federal loans, such as deferment options and the variety of income-based payment plans.

However, you'll continue to pile up interest on your balance, even with subsidized loans.

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