What is the looonnnngest plan? 20, 30 yrs?
2006-06-17 16:02:09 · 4 answers · asked by ? 4 in Business & Finance ➔ Other - Business & Finance
You did not say if you have subsidized or unsubsidized loans. I think there is a difference between the both in terms of your repayment options.
But the following link would be a good start.
https://www2.eac-easci.org/resources/RepaymentBro.pdf
The Estimated Student Loan Monthly Payment Chart and
Learn About Repayment Plans sections provide an idea about your monthly payments and various repayment plans.
You might also want to look into consolidating your loans. ( Note: rates go up, on July 1st ). ( If you want to consolidate your loans, do it before then ).
The best thing would be to talk to your financial aid department if you are still in school. They will discuss the various options available, and you could choose the best one for you.
2006-06-17 16:52:45 · answer #1 · answered by m 3 · 2⤊ 1⤋
Depends on who the owner of the loan is (who did you borrow from). Your payment depends on how soon you want to pay it off. Most loan payments are any where from 200-400 a month. If you have your loans from several places you may want to look at consolidating them. Hopefully you had mostly stafford loans where the interest was subsidized. having a longer paymnet plan will mean that you will pay more because of interest rates. Check out consolidations for your student loans and getting your interest rate fixed at the current rate before they go up again. Salliemae offers great tips.
2006-06-17 16:20:48 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Why don't you think a bit differently. Start thinking how you can make more income and get the darned loan paid off as quickly as possible. If you start your own business online, you can take that extra cash and apply toward the loan.
There are lots of ways to make anywhere from a few dollars to more than you can spend online. It's just a matter of learning how then doing it.
I found this site helpful and have a couple of the ebooks and now I am seeing results. You can to.
2006-06-17 16:21:23 · answer #3 · answered by Looking Up 5 · 0⤊ 0⤋
It depends on the lender and the terms you agreed to. You should check with your lender to find out what your minimum payments will be.
2006-06-17 16:07:28 · answer #4 · answered by rockinout 4 · 0⤊ 0⤋