Student Loan Planner The Basics of Student Loan Repayment: Which Plan to Choose, How to Make Payments, & When to Recertify Your Income
Apr 19, 2022
29:05
With the student loan pause, it’s likely that many of you haven’t made a payment in quite some time. So, how does repayment work when you’re fresh out of school? What do you need to know before starting to pay off your student loans?
Join us, Lauryn Williams, CFP®, CSLP®, and Dan Rooker, CFP®, CSLP®, as we talk about the basics of student loan repayments while helping you figure out which repayment plan is best for you and how to start paying off your student loans.
In today’s episode, you'll find out:
- What you need to know about the grace period of student loans.
- The only reason you should use your loan’s grace period.
- How to figure out which loan payment plan is right for you.
- Student loan repayment options
- The 5 types of income-driven repayment plans.
- The 2 most popular repayment plans
- What happens when your income changes? Do you have to update your loan?
- Why you do not want to be late in recertifying your income.
- How to easily calculate your student loan repayments for free!
- When to recalculate your payments and recertify your income.
- When are student loan payments due?
- Should you enroll in autopay for your student loans?
- What is a prepayment and when does it make sense to make a prepayment?
- How do you set up loan exit counseling?
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