{"id":8084,"date":"2018-02-23T19:55:47","date_gmt":"2018-02-23T19:55:47","guid":{"rendered":"https:\/\/losfresnosnews.net\/?p=8084"},"modified":"2018-02-23T19:55:47","modified_gmt":"2018-02-23T19:55:47","slug":"tips-to-repay-student-loans-as-quickly-and-affordably-as-possible","status":"publish","type":"post","link":"https:\/\/losfresnosnews.net\/?p=8084","title":{"rendered":"Tips to Repay Student Loans as Quickly and Affordably as Possible"},"content":{"rendered":"
\"\u00a9<\/a>

\u00a9 bnenin\/stock.Adobe.com<\/p><\/div>\n

(StatePoint) College students who borrow to pay for school typically don\u2019t have to start repaying their student loans until six months after leaving school. But when it does come time to start making loan payments, you may find yourself stressing out about the additional monthly expense.<\/p>\n

\u201cProperly preparing for this transition can help students successfully manage their payments now and in the future,\u201d says Martha Holler, senior vice president, Sallie Mae.<\/p>\n

To help, Holler is offering the following insights.<\/p>\n

\u2022 Know who and how much you owe.<\/strong> Keep track of lender and servicer contact information and other important details on a spreadsheet. Include the type of student loan, name of the servicer, the servicer\u2019s phone number, interest rate and type, and the ending date of your separation or grace period.<\/p>\n

\u2022 Tap technology.<\/strong> Set up automatic payments so you\u2019ll never have to worry about missing a payment. You\u2019ll avoid late fees and you might qualify for a discount on your interest rate. For example, Sallie Mae customers may be eligible to receive a 0.25 percent interest rate reduction when they pay on-time via auto-debit. In addition, with the lender\u2019s award-winning mobile app for Android and Apple, customers can make and manage payments anytime, including from an Apple Watch or by using Siri.<\/p>\n

\u2022 Save money.<\/strong> Make more than the minimum payment each month to pay off your loan faster and pay less interest overall.<\/p>\n

\u2022 Think long-term.<\/strong> Paying on time consistently can help you establish and build a favorable credit history. This can make a big difference when you apply for a car loan, credit card, lease, mortgage, or even a job.<\/p>\n

\u2022 Be responsible.<\/strong> Open any mail you receive from your servicer or lender and read it carefully. Update your contact information when it changes, such as when you leave school and \u201c.edu\u201d is no longer part of your email address. If you run into trouble, contact your lender or servicer, touch base with your cosigner if you have one, and look for solutions.<\/p>\n

For more tips and tools, visit salliemae.com<\/a> and check out Sallie Mae\u2019s \u201cManage Your Student Loans,\u201d a one-stop source of straightforward, comprehensive information featuring practical tools — including a monthly budget worksheet and a loan payment estimator, as well as easy-to-understand explanations of complex subjects, like how interest accrues, how payments are allocated to principal and interest, and how to build a strong credit history.<\/p>\n

\u201cOur student loan repayment tips and tools are designed to help new grads adopt responsible personal finance habits now that will serve them well throughout their lives,\u201d says Holler.<\/p>\n

Time to repay your student loans? Be sure you have all the tools and facts needed to do so as quickly and affordably as possible.<\/p>\n","protected":false},"excerpt":{"rendered":"

(StatePoint) College students who borrow to pay for school typically don\u2019t have to start repaying their student loans until six months after leaving school. But when it does come time to start making loan payments, you may find yourself stressing out about the additional monthly expense. \u201cProperly preparing for this transition can help students successfully […]<\/p>\n","protected":false},"author":4,"featured_media":8064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-web-exclusive"],"_links":{"self":[{"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=\/wp\/v2\/posts\/8084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8084"}],"version-history":[{"count":1,"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=\/wp\/v2\/posts\/8084\/revisions"}],"predecessor-version":[{"id":8085,"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=\/wp\/v2\/posts\/8084\/revisions\/8085"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=\/wp\/v2\/media\/8064"}],"wp:attachment":[{"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/losfresnosnews.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}