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11 smart ways to pay off student loans
Borrowers can use refinancing, extra payments and forgiveness programs to shorten repayment and reduce interest, experts say.
- Borrowers seeking to accelerate student loan repayment have multiple strategies available, as outlined by Freedom Debt Relief, including making extra payments toward the principal balance or refinancing existing loans.
- Establishing a clear understanding of loan details is essential, as borrowers should confirm exact balances and identify their specific servicer to ensure payments are correctly allocated toward the principal.
- Debt avalanche and another strategy targeting the smallest balance first help borrowers stay motivated during the repayment process, allowing them to track progress effectively.
- Setting up autopay can often secure interest rate discounts and help borrowers avoid missed payments, while employer programs provide additional funds for loan repayment.
- Federal loan consolidation into private products carries risks, as borrowers may lower rates but often forfeit government benefits.
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24 Articles
thepampanews.com+23 Reposted by 23 other sources
11 smart ways to pay off student loans
Freedom Debt Relief reports smart ways to pay off student loans, emphasizing extra payments, loan forgiveness programs, budgeting, and employer assistance to manage debt effectively.
·Pampa, United States
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Total News Sources24
Leaning Left4Leaning Right0Center19Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
L 17%
C 83%
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