The Fed has finally started to lower rates, which could signal a major shift for lenders, including in the student loan sector. Credible.com is one of the major marketplaces for private student loans. Over the last couple of weeks, they’ve seen some fixed-rate private loans drop by almost a 1%, whereas variable-rate loans increased significantly.
There are several different payment plans that student loan borrowers can choose from. Many of them, especially the Income-Driven Repayment (IDR) plans, have acronyms, which can make it confusing to keep them all straight. They fall into two broad, easily understood categories. The first is Fixed Payment; these plans are based on your total balance and how long you want to keep paying. They include the Standard, Graduated, and Extended plans.
There are several different payment plans that student loan borrowers can choose from. Many of them, especially the Income-Driven Repayment (IDR) plans, have acronyms, which can make it confusing to keep them all straight. They fall into two broad, easily understood categories. The first is Fixed Payment; these plans are based on your total balance and how long you want to keep paying. They include the Standard, Graduated, and Extended plans.
If you’re considering pursuing PSLF, give us a call and let us guide you through the process and give yourself the peace of mind. If you’ve already gotten started on your own, we’re always here to double-check your work and make sure you haven’t missed anything.
If you have any questions about how these cases affect you and your student loans, we’re always here to help! Give us a call and we’ll help you navigate fact from fiction, reality from speculation.
Federal Student Aid has frozen payments for those borrowers who were enrolled in SAVE while the case is argued in court. The 10th Circuit Court of Appeals, however, reversed the lower court’s ruling and is allowing the Dept. of Ed. to implement all of SAVE while they hear the appeal, but borrowers’ payments will remain frozen as the case continues.
If you have questions about the new SAVE plan, income recertification, or anything else related to your student loan repayment, drop your student loan professional a line—they’re here to help guide you through the murky waters of payment plans and more!
We continue to believe in an America in which all can freely believe that “the path of knowledge is open to all that have the determination to walk it,” and we will continue to work with our clients and our partners to make sure it stays that way.
If you have questions about interest rates, or are thinking about refinancing or consolidating, reach out to your student loan professional. They can guide you through the sea of numbers and find the best route forward for your repayment strategy.
If you have questions about interest rates, or are thinking about refinancing or consolidating, reach out to your student loan professional. They can guide you through the sea of numbers and find the best route forward for your repayment strategy.