While Parent PLUS Loans offer the same terms to all borrowers, private lenders provide a wider range
of student loan terms from which to choose.
If you choose your monthly payment and
student loan term length wisely, you'll be able to pay down your debt while simultaneously saving for your future.
In order to secure the
best student loan terms and ensure you pay them off as quickly as possible, it's important to avoid these three common misconceptions related to student loan debt.
Our research brief Unfair Deal in September 2015 examined the impact on students of the changes to
student loan terms announced in the 2015 summer budget.
Fewer student loan term options: iHelp offers only three different terms for student loan refinancing — 10 - year fixed, 15 - year fixed, and 20 - year variable.
While the Federal Direct PLUS Loan terms are the same for every borrower, private
student loan terms vary by lender based on your financial situation and credit.
If we explore what that means regarding long - term costs, over a standard 20 -
year student loan term, with a $ 20,000 loan — how much more does it cost to hold a private loan versus a federal one?
Savings from any client that selected an Earnest loan with a longer term than their Navient student loan terms
While federal student loans offer a fairly uniform application process and loan terms,
private student loan terms can vary widely from one lender to another.
Your student loan term refers to how long the lender expects it will take you to repay your debt.
When you evaluate your refinancing offers, make sure you compare interest rates, monthly payments, and other factors using
this student loan term comparison calculator.
As easy as it is to go through the refinancing process, there's an important step you shouldn't breeze through: choosing
your student loan terms.
If you want to pay off your debt faster and you can afford the shortest repayment term offered, then you want
your student loan terms to reflect that.
Use
our student loan term comparison calculator to help you decide how long you'd like to repay your loans.
We have long called for an increase, especially given that the freeze in the threshold was a retrospective change to
student loan terms.
More interest: By making less monthly payments, you are simply extending
your student loans term as it will take you longer period to repay the loan.
Student Loan Terms You Should Know There is never a bad time for learning something new or refreshing your knowledge in certain topics.
It might be hard to look past your student loan debt before you've even made a payment, but when choosing
your student loan terms, be sure to consider your entire financial situation.
It might be hard to look past your student loan debt before you've even made a payment, but when choosing
your student loan terms, be sure to consider your
The first step is simply knowing
your student loan terms — interest rate, repayment term, and the principle remaining.
Our Student Loan Term Comparison Calculator allows you to calculate and compare multiple student loan options with varying interest rates and terms.
At this stage in life, it could make more sense to shorten
your student loan term and capture lifetime savings.