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Tag Archives: loan repayment options

6 Overlooked Ways to Get a Grip on Student Loan Debt

paying off student loans

Finding a way to deal with your student loan debt isn’t always easy. Many borrowers settle into regular monthly payments for years before recognizing many other repayment options can help reduce their debt, save them money, and eliminate unnecessary headaches. But there are a lot of programs that can help you address your student loan debt without negatively impacting your credit or financial standing. Many student loan repayment programs are hard to find, and most borrowers simply overlook them. You can avoid making the same mistake by knowing the options that are available, and save money while you move closer to financial freedom. The following are 6 overlooked ways to begin overcoming the burden of student loan debt. 1) Seek Forgiveness One way you can overcome your outstanding student loan debt is to qualify for debt forgiveness. These programs are run by federal and state governments as well as banks to help borrowers. Forgiveness programs benefit borrowers who work in a field that serves the community. This includes paid and volunteer work as well as industries like health and legal assistance. Public Service Loan Forgiveness (PSLF) programs can be applied towards Federal Direct Loans. Other loans such as the Perkins Loan Program or the Federal Family Education Loan Program (FFEL) ...

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