Smart Consumer Series: How to Choose a Student Loan Repayment Plan

It can mean the difference between an affordable plan and a debt that balloons out of control

 

If you’re graduating from college this spring, congratulations!

Now brace yourself. Nearly two out of three grads are leaving school with student loans. Now is a good time to start weighing your options. It’s tempting to simply opt for the plan that gives you the lowest monthly payment. But that may not be the best choice for the long term because you’ll end up paying more in interest on your loan.

You have at least eight options, depending on the type of student loan you carry. Be realistic about what you can handle now so you won’t fall behind.

 

See repayment options here

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