Administrative forbearance is being offered If you need more time to pay your federal student loans due to the coronavirus (COVID-19). Plus, all federal student loans are temporarily lowered to zero percent.
Student Loan Debt
When you want to know how to pay off student loans fast think student loan refinancing. It’s a way to pay off student loans fast plus save thousands of dollars due to lower interest rates.
Consolidate student loans to get better terms, lower payments, save money and get out of default. Both federal and private loans can be consolidated but the process is different. Good credit not needed for federal student loan consolidation.
To meet the problem of growing student loan debt, the Department of Education offers PAYE and REPAYE Repayment Plans that reduce monthly student loan payments and forgives student loan debt after certain terms are met.
Refinance student loans, both private and federal for one lower payment. Student loan refinance can lower rates, payments and length of loan. No doubt you’ve heard how voluminous student loan debt has grown to 1.5 trillion. Get out of debt sooner by refinancing.
Negative accounts, even paid defaulted loans can remain on your credit report for seven years from the original date of the first missed payment that led to the defaulted off status.
Even though defaulted student loans can be pursued forever, negative credit reporting must be removed after 7 years with the exception of Perkins loans, which can remain until repaid.
The average student loan borrower who graduated in 2015 will… Read More »Don’t run from student loan debt: Rehabilitate defaulted student loans