NicholasFainlight.net @Nick_Fainlight

Government, notPrivate

Government, not Private

The smartest option you can make in choosing a

student loan is in taking a government one.

Government, not Private

According to Shmoop.com, most federal student

loans are capped at 3.4%-6.8% interest rates, while

private loans are liable to run you up to 15% or even

18%.

SimpleTuition.com

Take Advantage ofYour Financial

Aid Office

Financial Aid Office

Your college has a department of trained

professionals whose job it is to help students like you

to make the best financial decisions possible. Take

advantage of this!

Act Gracefully Duringthe Grace Period

Grace PeriodMany student loans offer the option of a grace

period, a window of time after you leave higher

education during which you don’t have to make any

loan payments! Sounds to good to be true, right?

Well, actually no.

Grace Period

As tempting as it might be to use your would-be loan

money on a vacation or a special graduation gift for

yourself. The best thing you can do is to continue to

make those payments as you normally would.

Pay Off Interest asSoon as You Can

Pay Off Interest

Every year you’re in school, your interest gets bigger.

left unchecked, you can soon find yourself with a

huge pile of interest that very well might require

interest payments of its own.

Pay Off Interest

Pay off those small interest fees as soon as you can. Keep

that molehill from becoming a mountain.

Along those lines, autodebit is one way to make sure

you’re actively repaying your interest and in many

cases it may even lower your interest rate!

Hello Deductions!

Hello Deductions!

Doing this will allow you to

reduce your taxable income by

up 2.5K.

No one likes thinking

about taxes.

But one way to save you

some major money is buy

deducting your student

loan interest.

Deferment andForbearance

Deferment and Forbearance

Unable to repay your

student loans at all?

Look into temporary

deferment. This will

save you from having to

pay back the principal

and make interest

payments for a period

of time.igrad.com

Deferment and Forbearance

Forbearance is another

tactic at your disposal,

but it’s generally not as

cushy as a deferment is.

Although you’ll get

some respite on

repaying back the

principal, you’ll still

have to make interest

payments.

igrad.com

Explore StudentLoan Forgiveness

Student Loan Forgiveness

What if I told you there was a way you could wipe

away some of your student loans?

No, I’m not talking about a black market operation,

I’m talking about 100% legal Student Loan

Forgiveness.

Student Loan ForgivenessThere are a number of programs out there that do

just this. For a full breakdown of available programs,

check out TheSimpleDollar.com.

Public Service Loan Forgiveness jobs

SEMA Loan Forgiveness

Teacher Loan Forgiveness Program

USDA Veterinary Medicine Loan Repayment Program

Legal Practice Student Loan Forgiveness

Faculty Loan Repayment Program

National Institute of Health Loan Forgiveness

NURSE Corps Loan Repayment Program

IHS Loan Repayment Programs

NHSC Loan Repayment Program

The State Loan Repayment program

Have another tip?Let me know below!

NicholasFainlight.net @Nick_Fainlight