1 answer
Drew
Student
Kaplan, Louisiana
1
Question
Updated
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What is the best way to take care of my student loans?
My family is not one to have enough money for college so I will have to take out loans. Because of this I want to be smart when paying my loans.
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1 answer
Cathy Le, CRP, GMS-T
Global Mobility Specialist
16
Answers
Rochester, New York
Updated
Cathy’s Answer
Hi Drew,
You sound like a very responsible adult, and I can tell that you care a lot about your family. That's a very admirable trait.
The best way to take care of your student loan is simply paying for the payment on time. As technology and time advance, you are now able to set up the frequency, monthly amount, and how long you would like to pay off the loan, and also set automatic payment by linking it to your bank account to pay for the payment on a predetermined date each month. This helps ensure that payment is made in time and you never miss a payment.
However, when you do, most student loan lenders are quite understanding and forgiving in waiving the late payment fee if it's your first time missing a payment, etc., but please don't quote me on this. :)
I, personally, also took out quite a bit of a loan during my school year, and it took me about 12 years to pay it off. A lot of things happened to me post-graduation, and I started a family, etc., so it took me longer than I'd like, but ultimately, I did pay it off, and the month in which I paid it, it was the best feeling ever!
Best wishes,
Cathy
You sound like a very responsible adult, and I can tell that you care a lot about your family. That's a very admirable trait.
The best way to take care of your student loan is simply paying for the payment on time. As technology and time advance, you are now able to set up the frequency, monthly amount, and how long you would like to pay off the loan, and also set automatic payment by linking it to your bank account to pay for the payment on a predetermined date each month. This helps ensure that payment is made in time and you never miss a payment.
However, when you do, most student loan lenders are quite understanding and forgiving in waiving the late payment fee if it's your first time missing a payment, etc., but please don't quote me on this. :)
I, personally, also took out quite a bit of a loan during my school year, and it took me about 12 years to pay it off. A lot of things happened to me post-graduation, and I started a family, etc., so it took me longer than I'd like, but ultimately, I did pay it off, and the month in which I paid it, it was the best feeling ever!
Best wishes,
Cathy