Federal Student Aid - When to start paying?
I'm currently a freshmen. How should I go about paying off my FASFA loan? Should I start paying it off now? Do I want it to be paid off before the payment is actually due (2029)? I'd love to hear about other's experience with loans.
A Deeper Problem With Financial Aid:
I doubt anyone will have an exact answer or solution to what's going on with my aid right now. I used to be able to pay around $50 a month through the official Federal Student Aid website then going to the loan servicer website (Central Research, Inc). I had made 2 previous payments towards my loan on this website, however now when I go there my amount due which I can pay is 0. I look at my previous payments on the website and they don't match up to what I previously paid and what shows up on my bank statement. I'm not sure if anyone can help with this problem, I would still love to hear answers to the previous questions!
1 answer
Bobbi’s Answer
You're doing great by considering your FAFSA loan payments ahead of time. Even if you can only make small or occasional payments now, it can really help reduce your debt later. This means your future payments will be smaller and more manageable. Another smart move is to save some money now, so you might not need to borrow as much next year. Both choices will help keep your debt lower after you graduate.
For any questions about your payments, check out the "contact us" options on your loan servicer's site and the studentaid.gov website. They can help clear up any confusion or fix any mistakes you might find.
Wishing you all the best in your studies!
Thanks Bobbi, I really appreciate your advice! I am planning on calling the loan servicer later today.
Srey