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To pay off a student loan the best way to do so, is to do what you are able to do without getting into financial trouble. If you are making good enough money and have a small enough loan, then yes, it would be a good idea to pay it off all at once if you can still live comfortably after doing so. If this isn't possible, then pay off as much as you can each month.
What else can I help you with?
Can you use your Stafford student loan to pay off debt?
No, you cannot use a Stafford student loan to pay off personal debt. The only debt that should be paid off with an educational Stafford loan is your college debt.
How can I pay off my student loans quickly?
If you want to pay off your student loans quickly, you should consider getting a job with have the benefit of loan forgiveness. These are usually public sector jobs. You should also pay a percentage of every pay check towards your loan.
Who pays student loan?
Students must pay the loan. As for how, the best way to start off is to get a job or any form of service that will help you pay it off. It's best to know what you can and can't pay so that you will be ready to pay off the student loan.
Should you pay student loan with line of credit?
I heard you can write off you student loan if you put it on your house/line of credit. But i thought you could do that anyway. Anyone know?
Can social security take your check if you are a co-signer on a student loan?
If you are on social security you should not be cosigning on a student loan. You would be guaranteeing that if the student doesn't pay off the loan you will. The federal government can garnish your social security benefits to recover student loan payments.
How long does it take to pay back student loans?
Loan Calculators You can use this student loan payoff calculator to estimate how long it will take to pay off your student loans. Use this tool to determine how quickly you'll pay off your student loans. By making a higher monthly payment, you can shorten the length of your loan.
If a student loan is paid in full by the student does the cosigner have to pay the like amount also?
Cosigning means you will pay any amounts the borrower does not pay, so if your son has paid the loan off, it is done.
How do you pay off a direct student loan?
Direct student loans can be paid off in bulk or with a set plan agreed with your provider. You should contact the provider for more information on your specific situation.
Can you pay off a private student loan all at once within the same year that you took the loan out?
If it was drawn up as a "simple interest loan" you can pay it off in full at any time.
How does one apply for student loan refinance?
It is not possible to apply for a student loan refinance as for federal loans, which is usually what a student applies for, there are only two methods to pay off the loan, one pays as they earn the amount, or you pay through your income.
Can you get a grant to pay off a student loan?
Yes, some grants can be used for that.
Should I pay off my student loan or car loan first in order to save the most money in the long run?
It depends on the interest rates of each loan. Generally, it's best to pay off the loan with the higher interest rate first to save the most money in the long run.
