What are my options for repaying federal student loans?
You have several options for repaying federal student loans, including standard repayment, graduated repayment, and income-driven repayment plans.
Can you explain the income-driven repayment plans?
Sure! Income-driven repayment plans adjust your monthly payment based on your income and family size, making it more manageable.
How do I apply for an income-driven repayment plan?
You can apply for an income-driven repayment plan by filling out the application on the Federal Student Aid website.
What happens if I miss a payment?
If you miss a payment, it can lead to late fees and negatively impact your credit score. It's important to contact your loan servicer.
Are there any loan forgiveness options available?
Yes, there are forgiveness options like Public Service Loan Forgiveness for those who work in qualifying public service jobs.
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