7 Ways To Get A Lower Student Loan Payment

After nearly two years of no federal student loan payments, some student loan borrowers may be wondering if it’s possible to get a lower monthly student loan payment

Here’s what you need to know.Student loans may be paused temporarily, but many student loan borrowers are focused on restarting student loan payments on May 1, 2022. Today, the average student loan payment is approximately $300. President Joe Biden and Congress have been focused on providing temporary student loan relief such as student loan forbearance as well as student loan cancellation. . .

That said, extending your student loan period also results in higher total interest payments over the life of your student loan. .Consider an income-driven repayment plan for your federal student loans. An income-driven repayment plan sets your monthly federal student loan payment based on your discretionary income, family size and state of residence.

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